By Atoyebi Nike
Nigeria has entered a new era of digital payments after PalmPay and Wema Bank completed the first live transaction on the National Payment Stack (NPS) on Friday, November 7, 2025. The transfer cleared in milliseconds, showing the speed and strength of the new system.
The Nigeria Inter-Bank Settlement System (NIBSS) built the NPS to modernize and unify the country’s payment channels. The platform delivers instant processing, stronger security, and smooth integration across banks, fintechs, and other payment operators.
NIBSS says the NPS runs on advanced architecture that supports digital signatures, multi-layer authentication, and high-volume traffic. It also supports cross-border transactions and gives innovators room to create new financial products.
The Stack uses the global ISO 20022 messaging standard, in line with the Central Bank of Nigeria’s directive. This upgrade improves transparency, strengthens compliance, and positions Nigeria for easier global integration.
The NPS will gradually replace the current NIBSS Instant Payment platform. NIBSS has urged all banks and fintechs to complete onboarding so customers can enjoy faster and safer transactions nationwide.
NIBSS, Nigeria’s key national payments infrastructure, operates major systems including the Nigeria Central Switch, the Bankers’ Clearing House, the BVN system, and AfriGO, the national card scheme. The launch of the National Payment Stack marks a major step in Nigeria’s digital transformation.
