Judul : PalmPay Launches Nigeria's First Live Transaction on National Payment Stack
link : PalmPay Launches Nigeria's First Live Transaction on National Payment Stack
PalmPay Launches Nigeria's First Live Transaction on National Payment Stack
PalmPay, the top digital banking service in Nigeria, has once again shown its dominance in advancing the country's payment transformation. In a significant milestone for Nigeria's digital economy, PalmPay, together with Wema Bank, executed the first operational transaction on the Nigeria Inter-bank Settlement System (NIBSS) National Payment Stack (NPS), an advanced system aimed at reshaping financial transactions throughout the nation.
The initial live transaction, which took place precisely at 11:56 am on Friday, November 7, 2025, signifies a significant milestone in Nigeria's financial innovation path and highlights PalmPay's position as a reliable leader in the payment sector.
This success is built upon the brand's rising reputation as a fintech pioneer, after receiving global recognition as the Financial Times Africa's Fastest-Growing Companies 2025 and being listed among CNBC and Statista's Top 300 Global Fintech Companies for two years in a row (2024 and 2025) for its influence, reach, and dedication to inclusive development in emerging markets.
A Significant Achievement That Transforms the Future of Financial Transactions
The National Payment Stack (NPS), driven by NIBSS, expands upon the achievements of the NIP framework, offering improved speed, compatibility, and real-time transaction processing within the financial system. Built to align with global standards, NPS strengthens international payment functions and incorporates enhanced security measures such as digital signatures and multi-factor authentication to protect users and organizations.
In addition to its technological innovations, the National Payment Stack (NPS) establishes a new standard for Nigeria's leadership in Africa's financial sector. By adopting the ISO 20022 global messaging standards, Nigeria has become a regional center for smooth and secure international transactions.
Speaking about the significant accomplishment, the Managing Director/Chief Executive Officer of the NIBSS, Premier Oiwoh, stated: “We praise PalmPay for this historic success as a vital partner in carrying out the first successful transaction on the National Payment Stack (NPS). This achievement highlights our mutual commitment”
dedication to promoting a quicker, more secure, and interoperable payment system in Nigeria. The NPS marks the new era of innovation aimed at driving inclusion, efficiency, and development within the financial sector. We anticipate more organizations joining as we jointly define the future of payments in Nigeria and throughout Africa.
Additionally, Jaipei Yan, Group Chief Commercial Officer at PalmPay, mentioned, "This success is a victory for Nigeria and its people. PalmPay is dedicated to offering more intelligent banking options. Since we began six years ago, our focus has been on connecting innovation with daily financial access. It was a great pleasure to collaborate with NIBSS and other partners on this significant achievement."
By introducing this significant achievement, PalmPay not only enhances its reputation but also highlights its commitment to the Central Bank of Nigeria’s efforts in building a digital, interconnected economy. From being listed among the top fintech companies globally to conducting Nigeria's first real-time transaction on a national payment system, PalmPay is demonstrating that innovation, when guided by a clear purpose, has the power to reshape economies.
In the future, PalmPay seeks to speed up its goal of creating a connected, digital, and financially accessible Africa, integrating global benchmarks with local significance to develop technology that genuinely supports individuals and enterprises.
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