NIBSS Achieves Milestone with First Live Transaction on National Payment Stack

The Nigerian Inter-Bank Settlement System (NIBSS) successfully conducted the first live transaction using the National Payment Stack (NP) in partnership with Palmpay and Wema Bank. This achievement, occurring approximately five months after the launch of NP, signifies a pivotal moment in Nigeria's digital payment sector.

The transaction, completed in milliseconds with immediate settlement, highlights the seamless and secure nature of NP, aimed at modernizing the country's payment ecosystem. NP, built on ISO 20022 international standards, is designed to enhance data-rich interoperability and regulatory compliance in alignment with the Central Bank of Nigeria's directives.