NIBSSPay

i. Financial Institutions / Banks
ii. PSSPs( aggregators)
iii. Corporates .
iv. Government MDAs

NIBSSPAY is built to ‘debit one account and credit multiple accounts’, the account to be debited is referred to as the ‘Funding Account’.

The platform has a fully developed frontend (Portal) with customer-friendly features and an API version that allows customers to build their own front-end around the payment engines (NEFT and MultiPay). Clients can make bulk payments by uploading payment schedules and routing these payments through either NEFT or MultiPay.

A schedule is a document containing the relevant payment details of the beneficiaries, a typical payment schedule contains:

• Beneficiary account name
• Beneficiary account number
• Beneficiary bank
• Bank Code
• Amount to be paid
• Narration

File format must be in CSV

The platform can process up to 100,000 payment items in single file schedules. Multiple payment schedules can be uploaded, one after the other.

• Customers can process bulk payments in convenient period methods. (near instant or session based)
• The portal offers a 2FA method to help manage and protect access to the platform.
• Customers can also integrate the APIs to build their own front end to cater for their bulk payments and use cases.

The Financial Institutions are to:

• Integrate to the service and deploy to their channels (front end, internet banking, etc.) to enable customers issue or make bulk payments using NIBSSPAY.
• Other institutions such as Government MDAs or large corporates can also be onboarded on the portal to process Bulk payments.
• Clients can also upload schedules for validation via the portal or API to have a clean file/ Schedule to process payments.
• Clients can log on to the NIBSSPAY application portal over the internet to upload payment schedule(s) or process payment from their ERP through a web service API over a secure connection

To manage the portal as an institution, the client has to be onboarded on the portal and have users are created to perform select functions on the portal.

Operator/Uploader: The operator profile enables a user to upload and view payment schedules.

An operator can upload payment schedule for beneficiaries, Tax payment to FIRS and Pension remittances to Pension Funds Administrators (PFAs)

Approver: The approver profile enables a user approve uploaded schedules for payment

Only the Approver has the rights to authorize a transaction

Auditor: The auditor role is a maker checker for schedules uploaded for approval

Single View: view functionality gives you access to view your account balances across all the Banks (these accounts need to profiled on the platform)

Pension Remittance (EPCCOS): upload your pension schedules to the various pension administrator using the Pension tab

FIRS: eTaxPay enables various upload of your tax schedules to FIRS

Name Enquiry: this allows an account name enquiry for file clean-up and accuracy

Clients can use the service for use cases such:

• Funds sweeping
• Salary Payments
• Merchant payments
• Tax Payments
• Vendor Payments, etc.

The pricing for NIBSSPAY is N15 per record.

Cases of failed transactions that resulted to an account debit, details of the transaction (payment schedule) should be logged on the NIBSS HelpDesk Portal (https://contactcentre.nibss-plc.com.ng) for prompt resolution.