NIBSS Adopts Transactility's ISO-20022 jPOS Technology for National Payment Stack
The Nigeria Inter-Bank Settlement System has partnered with Transactility to deploy an ISO-20022-compliant National Payment Stack built on open-source jPOS technology. The adoption is expected to reshape interoperability standards and core payment rails across Nigeria's financial system.
Nigeria's Payment Stack: owning the code changes everything
NIBSS just built Nigeria's national payment backbone on open-source software — and quietly secured access to the actual source code.
That detail matters more than the launch announcement. Most countries running critical payment infrastructure are locked into proprietary vendor systems: the vendor upgrades when it wants, charges what it likes, and leaves the country with no recourse. NIBSS can now modify its own stack as Nigeria's market shifts, without asking permission or writing a cheque to a foreign company each time.
For every fintech and bank building on top of Nigerian payment rails, the floor just got more stable — and more locally controlled.
3 sources
- NIBSS and Transactility Partnership Delivers National Payment Stack · itweb.co.za · T2
- NIBSS taps Transactility’s open-source technology to strengthen Nigeria’s payment system · technext24.com · T2
- NIBSS adopts Transactility’s jPOS technology for National Payment Stack · nairametrics.com · T2