NIBSS Integrates Transactility's jPOS for Payment Stack

The Nigeria Inter-Bank Settlement System (NIBSS) has adopted payment processing technology from Transactility Inc. to develop its National Payment Stack (NPS), a next-generation instant payments platform. This platform, disclosed in a statement on Tuesday, employs a modular architecture that integrates internally developed capabilities with selected open-source and enterprise technologies.

It utilizes Transactility’s jPTS switch, built on the jPOS framework, to enhance payment processing. NIBSS stated that this modular approach allows customization, control over architecture, and adaptability to market and regulatory changes.

The NPS supports account-to-account instant transfers, QR merchant payments, phone-number-based payment addressing, and bulk payments. Premier Oiwoh, Managing Director and CEO of NIBSS, emphasized that the platform meets the scale and demands of Nigeria’s payments market.

Alejandro Revilla, Founder and CTO of Transactility, called the development a significant milestone for the company and the payments community. The NPS also incorporates support for ISO 20022 messaging, addressing evolving market requirements.