PalmPay and Wema Bank have completed Nigeria’s first live transaction on the new National Payment Stack (NPS), marking a major milestone in the country’s digital payment modernization drive.
The Nigeria Inter-Bank Settlement System (NIBSS) announced that the transaction took place at exactly 11:56 a.m. on November 7, 2025, and was completed in milliseconds.
The NPS is a next-generation infrastructure built by NIBSS to unify and modernize the country’s payment ecosystem, offering faster and more secure transaction processing. The system supports cross-border payments and complies with the ISO 20022 global standard for financial messaging.
NIBSS said the NPS will eventually replace the NIBSS Instant Payment (NIP) platform, providing greater scalability and reliability.
The organization praised PalmPay and Wema Bank for pioneering the first live transaction and urged other banks and fintechs to complete their integration.
“With this milestone, Nigeria’s digital public infrastructure takes another leap toward a faster, safer, and more inclusive financial system,” NIBSS said.
