NIBSS, Transactility Partner to Deliver National Payment Stack

The Nigeria Inter-Bank Settlement System (NIBSS), Nigeria’s central payment infrastructure operator, leveraged Transactility’s jPOS open-source technology for the rollout of the National Payment Stack (NPS), a next-generation ISO-20022 instant payments platform designed and developed by NIBSS for Nigeria’s payments ecosystem.
Transactility, Inc. announced this in a statement issued from Boca Raton, Florida.
NIBSS designed NPS using a modular architecture that combines NIBSS-developed capabilities with selected open and enterprise technologies.
NIBSS selected Transactility’s open-source stack, including the extreme-performance jPTS switch—built on jPOS, the gold standard for ISO-8583 payment processing, used in billions of transactions worldwide daily—as the foundation for the NPS.
NIBSS has used jPOS within its payment infrastructure for many years, particularly for ISO 8583 transaction processing. For the National Payment Stack, NIBSS leveraged jPTS and its newly introduced ISO-20022 support to architect a switch purpose-built for the demands of Africa’s largest economy.
With full access to the source code and the full customizability of the Transactility stack, NIBSS retains control of the NPS architecture, product roadmap, and operational development, as well as the intellectual property developed by NIBSS for the platform.
The use of open, source-accessible technologies also enables NIBSS to extend the platform and respond to market and regulatory requirements without relying on a proprietary vendor’s release cycle.
Commenting, Premier Oiwoh, Managing Director/CEO, Nigeria Inter-Bank Settlement System (NIBSS), said: “The NPS was designed and built for the scale and demands of the Nigerian payments market. The jPOS ecosystem gives us the flexibility to continue developing the platform as the ecosystem evolves.”
NPS supports account-to-account instant transfers, QR merchant payments, alias-based addressing such as phone numbers, and bulk payments.
It is designed to deliver the performance and availability required for national payment infrastructure while providing a foundation for new services as the market develops.
The use of jPTS reflects NIBSS’ approach to NPS: combining proven technologies with NIBSS’ own payments expertise and engineering.
“This development is an important milestone for Transactility and the wider payments community,” said Alejandro Revilla, Founder and CTO of Transactility.
“We are proud that NIBSS selected technologies from the jPOS ecosystem for the National Payment Stack. NPS shows how open technology and local engineering can be used to build national payment infrastructure at scale.”
NIBSS Plc was incorporated in 1993 and is owned by the Central Bank of Nigeria (CBN) and all licensed Deposit Money Banks (DMBs) in Nigeria.
NIBSS provides key payment infrastructure that facilitates instant clearing and settlement of inter-bank transfers, as well as Know Your Customer (KYC) processes through the Bank Verification Number (BVN) system and point-of-sale (POS) payments driving financial inclusion and payment innovation across Nigeria.
NIBSS holds ISO 27001, ISO 22301, ISO 20000, PCI-DSS and NDPR certifications.
Transactility is the commercial steward of jPOS, an open-source framework for payment transaction processing. Its products include jPTS, jCard, and ISO/Bridge. Headquartered in Boca Raton, Florida, Transactility serves clients in over 120 countries.
jPOS is an open-source framework for payment transaction processing. It has been used for more than 25 years to build payment gateways, switches and transaction-processing systems, including systems using ISO 8583 and ISO 20022 messaging.