{"id":263023,"date":"2025-11-14T20:10:09","date_gmt":"2025-11-14T20:10:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/263023\/"},"modified":"2025-11-14T20:10:09","modified_gmt":"2025-11-14T20:10:09","slug":"palmpay-executes-nigerias-first-live-transaction-on-the-national-payment-stack-nps","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/263023\/","title":{"rendered":"PalmPay executes Nigeria\u2019s first live transaction on the National Payment Stack (NPS)\u00a0"},"content":{"rendered":"

PalmPay completed Nigeria\u2019s first live transaction on the National Payment Stack (NPS), marking a major milestone in the country\u2019s digital payment evolution The NPS introduces faster, more secure, and interoperable payment infrastructure, positioning Nigeria as a regional leader in cross-border financial innovation PalmPay\u2019s achievement reinforces its role as a fintech pioneer, aligning with the Central Bank\u2019s vision for a connected and inclusive digital economy<\/p>\n

PalmPay, Nigeria\u2019s leading digital banking platform, has once again demonstrated its leadership in driving the nation\u2019s payment revolution.<\/p>\n

In a landmark development for\u00a0Nigeria\u2019s digital economy,\u00a0PalmPay, in collaboration with Wema Bank, completed the first live transaction on the Nigeria Inter-bank Settlement System (NIBSS) National Payment Stack (NPS), a next-generation infrastructure designed to redefine how money moves across the country.<\/p>\n

The first live transaction, which happened at exactly 11:56 am on Friday, November 7, 2025, marks a new era in Nigeria\u2019s financial innovation journey and reinforces PalmPay\u2019s role as a trusted pioneer in the payment ecosystem.<\/p>\n

This achievement rides on the back of the brand\u2019s growing reputation as a fintech innovator, following recent global recognitions as Financial Times\u00a0Africa\u2019s Fastest-Growing Companies 2025\u00a0and CNBC and Statista\u2019s\u00a0Top 300 Global Fintech Companies for two consecutive years (2024 and 2025) for its impact, scale, and commitment to inclusive growth across emerging markets.<\/p>\n

A Milestone that Redefines the Future of Payments\u00a0<\/p>\n

The National Payment Stack (NPS), powered by NIBSS, builds on the success of the NIP infrastructure, introducing greater speed, interoperability and real-time settlement across the financial ecosystem.<\/p>\n

Designed to meet international standards, NPS enhances cross-border payment capabilities while introducing more advanced security features, including digital signatures and multi-factor authentication to safeguard users and institutions.<\/p>\n

Beyond its technical advancements, the National Payment Stack (NPS) sets a new\u00a0benchmark for Nigeria\u2019s leadership in Africa\u2019s finance landscape. Through the ISO 20022 global messaging standards, Nigeria is now positioned as a regional hub for\u00a0seamless and secure cross-border transactions.<\/p>\n

Commenting on the landmark achievement, the Managing Director\/Chief Executive\u00a0Officer of the NIBSS, Premier\u00a0Oiwoh, said: \u201cWe commend\u00a0PalmPay\u00a0for this historic achievement as one of the key collaborators in executing the first successful transaction on the National Payment Stack (NPS). This milestone reflects our shared\u00a0commitment to advancing a faster,\u00a0safer\u00a0and more interoperable payment ecosystem for Nigeria. The NPS\u00a0represents\u00a0the next frontier of innovation designed to power inclusion,\u00a0efficiency\u00a0and growth across the financial industry. We look forward to more institutions coming on board as we collectively shape the future of payments in Nigeria and across Africa.\u201d\u00a0<\/p>\n

Also speaking,\u00a0Jaipei\u00a0Yan, Group Chief Commercial Officer at\u00a0PalmPay,\u00a0stated, \u201cThis achievement is a win for Nigeria and Nigerians.\u00a0PalmPay\u00a0is all about providing smarter banking solutions. Since our launch six years ago, we have focused on bridging the gap between innovation and everyday financial inclusion. It was an absolute delight to work with NIBSS and other stakeholders on this remarkable\u00a0milestone.\u201d\u00a0<\/p>\n

By pioneering this milestone,\u00a0PalmPay\u00a0not only strengthens its credibility but also reinforces its alignment with the Central Bank of Nigeria\u2019s drive toward a digital, connected economy. From ranking among the world\u2019s leading fintech brands to executing Nigeria\u2019s first live transaction on a national payment infrastructure,\u00a0PalmPay\u00a0is proving that innovation, when purpose-driven, can transform economies.<\/p>\n

Looking ahead, PalmPay aims to accelerate its vision of a connected, digital, and financially inclusive Africa, combining global standards with local relevance to build technology that truly empowers people and businesses.<\/p>\n

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