NIBSS, Transactility to power Nigeria’s next-gen national payment stack
The Nigeria Inter-Bank Settlement System has partnered with Transactility to build the National Payment Stack, a next-gen platform for Nigeria’s ecosystem. Read More: https://punchng.com/nibss-transactility-to-power-nigerias-next-gen-national-payment-stack/
NIBSS and Transactility have collaborated to build Nigeria's next-generation national payment stack, the National Payment Stack (NPS). Utilizing Transactility's open-source jPOS technology, NIBSS developed the platform with a modular architecture, combining locally developed capabilities with selected open and enterprise technologies.
The NPS supports account-to-account instant transfers, QR merchant payments, alias-based addressing, and bulk payments, catering to the performance and availability required for national payment infrastructure while providing a foundation for new financial services. Transactility's jPTS switch, built on jPOS, serves as the foundation for the new platform.
NIBSS retains full control of the NPS architecture, product roadmap, operational development, and intellectual property, enabling them to extend the platform and respond to market and regulatory requirements without relying on a proprietary vendor's release cycle.
Brief written by urgent.news from Punch's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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