NIBSS's National Payment Stack Completes First Successful Transaction, Boosting Nigeria's Fintech Sector
The Nigeria Inter-Bank Settlement System (NIBSS) successfully completed its first live transaction using the National Payment Stack, designed to unify and streamline payment operations across banks and fintech providers in Nigeria. This new infrastructure is expected to significantly improve transaction speed, enhance security through advanced digital signature authentication systems, and promote interoperability among financial institutions.
Palmpay and Wema Bank were acknowledged as the first institutions to complete transactions on the platform, positioning Nigeria as a leading fintech hub in Africa.
Plus234Feed summary based on reporting from The Will. Read the original report below.
Read full article
Continue on The Will
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
NIBSS Achieves Milestone with First Live Transaction on National Payment Stack
NIBSS Leads African Payment Systems to Mature Inclusivity Level
NIBSS Instant Payment Wins Top African Recognition
Nigeria Leads Africa in Payment Maturity Rating, NIP Platform Recognized
FirstBank Integrates PAPSS into LIT App for Instant Cross-Border Payments in Africa
CBN Drives E-Payment Modernization for Cybersecurity and Financial Stability in Nigeria
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
