NIBSS taps Transactility’s open-source technology for a stronger Nigerian payment system
Summary
NIBSS launched the National Payment Stack to modernize Nigeria’s payment infrastructure. The platform uses Transactility’s jPOS open-source technology and jPTS payment switch to support instant transfers, QR payments, bulk payments, and structured ISO 20022 messaging. NIBSS says access to the source code will let it adapt the system without full vendor dependence. The partnership could improve speed, flexibility, and control in the country’s financial network, but the announcement does not yet provide rollout timing or performance details.
AskAI Classifications
Sectors
Fintech, Banking and Payments
General FinTech
Payment Processing
Functions
Developer and IT Infrastructure
Development Platforms
Linked Companies
Transactility, Inc.
$1M to $5M
jPOS Software SRL
up to $1M