Transactility, Inc. said Oct. 13 that Nigeria Inter-Bank Settlement System (NIBSS) selected its jPTS switch for the National Payment Stack (NPS), which NIBSS said had topped 100 million transactions.
NIBSS reported Aug. 12 that NPS had processed 26.55 million transactions worth ₦1.4 trillion across 48 participating institutions. On Sept. 28, it said the platform had passed 100 million transactions, but did not give a transaction value or measurement period for the newer figure. The August update also lacked a measurement period, so the releases do not provide a like-for-like comparison.
The selected switch runs on jPOS, an open-source framework, and NPS uses ISO 20022 messaging, Transactility said. The company described the system as bringing NIBSS-developed capabilities together with selected open and enterprise technologies.
Transactility said the platform supports instant transfers between accounts, QR payments at merchants, phone-number aliases and bulk payments. NIBSS has said it designed NPS to support financial inclusion and public services, including social programs, tax payments and revenue collection.
NIBSS Managing Director and CEO Premier Oiwoh said the jPOS ecosystem gives the operator “flexibility to continue developing the platform.”
Transactility said access to the source code gives NIBSS room to shape the system’s architecture and future development. The company said this could help the operator address market and regulatory requirements without waiting for a proprietary supplier’s release schedule. Its announcement did not disclose financial terms.
NIBSS unveiled NPS on June 23, 2025, as a next-generation system building on NIBSS Instant Payment (NIP), which it said began 14 years earlier. In an Aug. 2026 update, NIBSS said it was preparing an industry-wide move to NPS and the retirement of NIP. It did not announce a date for the transition.
