Bank transfers & instant payments · On request
Bank transfer (NIP)
NIP (NIBSS Instant Payment) is Nigeria's real-time interbank transfer system, run by the Nigeria Inter-Bank Settlement System since 2011: a transfer between any two Nigerian bank accounts arrives in seconds. At checkout the provider shows a virtual account number for the exact amount, the payer sends the transfer from any banking app or by USSD, and the provider confirms on receipt; it is the most used way to pay online in Nigeria, with no chargebacks.
Key facts
- Countries
- Nigeria
- Currencies
- NGN
- Operations
- Pay-in · Payout · Refund
- Settlement
- instant
- Chargebacks
- not possible
How a payment goes through
- 1The checkout shows the account details, the amount and a reference
- 2The payer sends the transfer from their banking app
- 3The provider matches the incoming transfer by reference and amount
- 4Webhook to the merchant; unmatched transfers are refunded
How a payment goes through
- The checkout offers a bank transfer and shows the virtual account number, the bank name and the exact amount.
- The payer sends the transfer from any banking app, internet banking or a USSD code on a basic phone.
- NIBSS delivers the transfer in seconds; the provider matches it by account and amount and confirms.
- Tranzify writes the result and calls the merchant’s webhook.
Bank transfer against cards in Nigeria
Transfers are the most used online payment in Nigeria because every account holder can send one from an app or a USSD code, and the virtual account removes the manual matching that once made transfers slow for merchants.
| Bank transfer (NIP) | Cards | |
|---|---|---|
| What the payer needs | any Nigerian bank account, an app or USSD | a card accepted by the acquirer |
| Confirmation | seconds | seconds, with the bank’s verification |
| Chargebacks | none | scheme rules |
| Recurring | no | yes, with tokens |
| Payouts | yes, to any Nigerian account | limited |
Who uses it
E-commerce, delivery and digital goods, where many Nigerian payers prefer a transfer to typing a card; iGaming and fintech for deposits and withdrawals to the same account within seconds. A client (a payment company) enables Flutterwave or Paystack for bank transfers under its own contract; the integration is enabled on request. Refunds go back as a transfer to the payer’s account through the same provider.
How to connect
- 1Onboard with Tranzify and get your network, keys and back office.
- 2Enter your account with the provider in the terminal settings — Tranzify already speaks its API.
- 3Add routing rules: countries, currencies, amounts, BIN ranges, priorities and weights.
- 4Go live. Every payment, callback and retry is in the journal for five years.
Providers offering this method
On request — Request this integration
Industries
Frequently asked questions
What is a virtual account?+
Are there chargebacks?+
Who is the licensed party in Nigeria?+
Related methods
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