NIBSS Adopts Transactility’s jPOS for New National Payment Stack

The Nigeria Inter-Bank Settlement System (NIBSS) said it has adopted the jPOS technology of Transactility Inc. to develop its National Payment Stack (NPS), a next-generation instant payments platform.
NIBSS said in a statement on Tuesday that the platform was designed to support Nigeria’s evolving payments ecosystem using a modular architecture.
The statement said NIBSS selected Transactility’s jPTS switch, built on the open-source jPOS framework, to support the platform’s payment processing capabilities.
It explained that NIBSS had been using jPOS technology in its payment infrastructure for several years, particularly for processing transactions based on the ISO 8583 messaging standard.
According to the statement, the NPS incorporates the newly introduced jPOS of ISO 20022 support to meet the demands of Nigeria’s payments market.
The statement added that the platform combines NIBSS-developed capabilities with selected open-source and enterprise technologies.
It said the approach gives NIBSS access to the source code, allowing the organisation to customise the platform and retain control of its architecture and development roadmap.
The statement noted that the arrangement also allows NIBSS to respond to changing market and regulatory requirements without relying on proprietary vendors’ release schedules.
The statement quoted Mr Premier Oiwoh, Managing Director/Chief Executive Officer of NIBSS, as saying that the platform was designed for the scale and demands of Nigeria’s payments market.
“The jPOS ecosystem gives us the flexibility to continue developing the platform as the ecosystem evolves,” Oiwoh said.
The statement said the NPS supports account-to-account instant transfers, QR merchant payments, phone-number-based payment addressing and bulk payments.
It added that the platform was designed to deliver the performance and availability required for national payment infrastructure while supporting future payment services.
According to the statement, the adoption of jPOS reflects the strategy of NIBSS to combine proven technologies with its payment expertise and engineering capabilities.
Founder and Chief Technology Officer of Transactility, Alejandro Revilla, described the development as an important milestone for the company and the wider payments community.
“We are proud that NIBSS selected technologies from the jPOS ecosystem for the National Payment Stack,” Revilla said.
He said the NPS demonstrated how open technology and local engineering could support the development of national payment infrastructure at scale.
NIBSS Plc was incorporated in 1993 and is owned by the Central Bank of Nigeria and all licensed deposit money banks in the country.
The organisation provides payment infrastructure for interbank transfers, clearing and settlement, as well as identity verification through the Bank Verification Number system.
It also supports point-of-sale payments and other initiatives aimed at advancing financial inclusion and payment innovation in Nigeria.
Transactility, headquartered in Boca Raton, Florida, is the commercial steward of jPOS, an open-source framework for payment transaction processing.
The company provides products including jPTS, jCard and ISO/Bridge, serving clients in more than 120 countries.
jPOS has been used for more than 25 years to develop payment gateways, switches and transaction-processing systems supporting ISO 8583 and ISO 20022 messaging standards.