Nigeria has taken a significant leap in its digital payments landscape as PalmPay and Wema Bank successfully executed the first live transaction on the National Payment Stack (NPS) a next-generation payment infrastructure developed by the Nigeria Inter-Bank Settlement System (NIBSS).
The historic transaction took place on Friday, November 7, 2025, at 11:56 a.m., completing in milliseconds, demonstrating the platform’s speed and reliability.
The NPS is designed to upgrade and eventually replace the existing NIBSS Instant Payments (NIP) platform, offering enhanced scalability, seamless interoperability, and compliance with global ISO 20022 messaging standards. This modern infrastructure aims to support a growing number of banks, fintechs, and payment service providers, creating a more inclusive and efficient financial ecosystem.
In a statement, NIBSS hailed PalmPay and Wema Bank as “trailblazers” for leading the adoption of the platform and encouraged other financial institutions to onboard the NPS to unlock its full potential.
Experts note that the introduction of the NPS positions Nigeria among countries implementing global-standard digital payment protocols, allowing richer transaction data, faster settlements, and smoother integration with international financial systems.
The successful launch of the NPS marks a new era in instant payments in Nigeria, promising faster, more secure, and more efficient transactions for consumers and businesses alike, while driving innovation and financial inclusion across the country. Visit www.jocomms.com for more news.
