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Nairaland Forum / Science/Technology / Programming / NIBBS Payments Explanation (intra And Inter Payments) (1341 Views)
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NIBBS Payments Explanation (intra And Inter Payments) by Whytelyon(m): 5:04pm On Aug 20, 2018 |
How does this NIBBS stuff work? Like How am i supposed to go about it. Does NIBBS work on only when i want to make Payments for Interbank (Like for instance from First Bank to Zenith) or does it work for Both Intra and Inter transfers ? I am very confused here about this and hence i wanted to ask this on here to know how i would go about convincing my clients Do let me know. |
Re: NIBBS Payments Explanation (intra And Inter Payments) by ToyinDipo(m): 7:53am On Aug 22, 2018 |
Whytelyon:It works for both |
Re: NIBBS Payments Explanation (intra And Inter Payments) by CodeTemplar: 8:57pm On Aug 23, 2018 |
ToyinDipo:I believe it works for inter-bank settlement as the name suggests. If it works for both then it is serving as a unnecessary stopover for intra-bank settlements. Why will FirstBank or Zenith want to go through their network provider then head to NIBBS before heading to their server when they can head straight for their server. |
Re: NIBBS Payments Explanation (intra And Inter Payments) by Whytelyon(m): 9:50am On Aug 25, 2018 |
CodeTemplar: Exactly what I was thinking. Was thinking it was only for payments outside the bank. Not intra transfers. By the way, why would a bank want NIBBS to have access to the transfers within a bank, they'd also want to retrieve something related to account statements from NIBBS then? Still thinking here |
Re: NIBBS Payments Explanation (intra And Inter Payments) by Whytelyon(m): 10:10am On Aug 25, 2018 |
I think this settles my answer here https://nibss-plc.com.ng/company-overview/ Especially here "NIBSS has put in place modern world-class infrastructures for handling inter-bank payments in order to remove potential bottlenecks associated with inter-bank funds transfer and settlement. " |
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