FACT SHEET Namibia's Instant Payment Solution (IPS)

FACT SHEET

Namibia's Instant Payment Solution (IPS)

PLATFORM OVERVIEW

Full name — Instant Payment Solution (IPS) / Instant Payment Platform (IPP)

Operator — Instant Payment Namibia (IPN)

Parent body — Bank of Namibia

Technology partner — NPCI International Payments Limited (NIPL)

STATUS

Pilot testing successfully completed in a live production environment. Phased rollout now underway.

PILOT PARTICIPANTS

Bank Windhoek

Nampost

Letshego Bank Namibia

Bank of Namibia (Currency Management and Banking Operations Department)

ROLLOUT PHASES

Phase 1 — Government-to-Person (G2P)

Participating institutions receive and disburse government social grant payments through the platform.

Phase 2 onwards

Additional use cases to be introduced, expanding public access, convenience and financial inclusion.

HOW IT WORKS

IPN operates strictly as a payment system operator. It does not offer services directly to consumers. Banks, authorised fintechs and e-money issuers provide services to the public through the interoperable platform.

KEY OBJECTIVES

Lower transaction costs for ordinary Namibians

Interoperability across all financial service providers

Expanded access for rural and informal economy users

Fair competition for fintechs and smaller institutions

LONG-TERM PLAN

Once public interest goals are met, the Bank of Namibia will withdraw from direct operations and transfer platform management to the industry.

Issued by Instant Payment Namibia (IPN)

Contact: Marsorry Ickua — Chief Operating Officer