Press Release
NIBSS Commences T+1 Settlement of POS Card Transactions
December 26th, 2011
NIBSS Commences T+1 Settlement of POS Card Transactions Lagos Nigeria; November 28 2011: As part of its preparation for the Cashless Lagos project, Nigeria Inter-Bank Settlement System Plc (NIBSS) has commenced T+1 Settlement of POS transactions, processed through Valucard Nigeria Plc, into Merchants Bank accounts. The T+1 settlement rule is designed to ensure that business …
Read MoreNIBSS Commences Pilot Run on Cheque Truncation and Image Exchange
November 11th, 2011
Another giant stride was made by Nigeria Inter-Bank Settlement System (NIBSS) Plc with the upgrade of the Nigeria Automated Clearing System (NACS) infrastructure with the commencement of pilot run of Cheque Truncation and Image Exchange for the Nigeria financial system on Monday, August 1, 2011. Cheque Truncation System is designed to enable banks to handle …
Read MoreNIBSS Instant Payments Service
November 11th, 2011
Lagos Nigeria; June 27 2011: In its bid to enhance improved service to bank customers and consumers of e-payment services, Nigeria Inter-Bank Settlement System Plc (NIBSS) has introduced the “NIBSS Instant Payments (NIP) “, an account-number-based, online real time inter-bank funds transfer service, that will enable banks and other e-payment solution providers to provide faster …
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