# Nigeria — payment codes and schemes

> Source: https://docs.barcoder.ai/docs/payments/NG
> extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

## Summary

- **NQR** national QR standard (NIBSS, 2021)
- **EMVCo** specification compliant
- **P2P + E2P** payments supported
- **Zone blockchain** PTSA partnership (2024)
- **March 2025** pricing update

## Banking landscape

### Central Bank
- **Name:** Central Bank of Nigeria (CBN)
- **Website:** https://www.cbn.gov.ng/
- **Role:** Monetary policy, cashless economy drive

### Major Banks (2024)

| Rank | Bank Name | Type | Digital Platform |
|------|-----------|------|------------------|
| 1 | Access Bank | Local | Access More |
| 2 | Zenith Bank | Local | Zenith Mobile |
| 3 | GTBank | Local | GTWorld |
| 4 | UBA | Pan-African | UBA Mobile |
| 5 | First Bank | Local | FirstMobile |

### Market Structure
- **NIBSS:** Interbank settlement
- **NQR:** National QR standard
- **Cashless:** CBN priority
- **EMVCo:** Aligned standard

---

## Payment infrastructure

### National Payment Systems

| System | Operator | Type | Status |
|--------|----------|------|--------|
| NQR | NIBSS | National QR | Active (2021) |
| NIP | NIBSS | Instant payment | Active |
| NEFT | NIBSS | EFT | Active |
| POS | Various | Card terminals | Active |

### NIBSS Overview
- Nigeria Inter-Bank Settlement System
- Payment infrastructure operator
- NQR platform owner
- FSI representation

### NQR Launch
- March 2021 launch
- Unify QR landscape
- Cost-effective alternative
- Cash transaction reduction

---

## QR code standards

### NQR (Nigeria Quick Response)

| Attribute | Value |
|-----------|-------|
| **Launch** | March 2021 |
| **Operator** | NIBSS |
| **Standard** | EMVCo QR Specification |
| **Type** | Account-based |

### NQR Features
- Unifies closed QR schemes
- Consistent user experience
- API-driven platform
- Local + global interoperability
- High security

### Payment Types
- Person-to-Person (P2P)
- Entity-to-Person (E2P)
- Merchant payments
- Bill payments

### 2024-2025 Upgrades
- System enhancement
- Broader accessibility
- More secure transactions
- New pricing March 2025

---

## Mobile payment apps

| App | Provider | QR | Features |
|-----|----------|-------|----------|
| Bank Apps | All banks | Yes | NQR enabled |
| Fintech Apps | Various | Yes | NQR integrated |
| USSD | Feature phones | Limited | NQR available |

### Bank Integration
- All major banks support NQR
- Generate merchant QR codes
- Scan and pay functionality
- Smartphone + USSD access

### Merchant Onboarding
- Banks onboard merchants
- NQR code generation
- Sticker/display format
- Transaction acquisition

### Customer Journey
1. Open bank/wallet app
2. Scan merchant NQR code
3. Confirm payment amount
4. Authenticate (PIN/biometric)
5. Instant confirmation

---

## Schemes

| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| [NQR](https://docs.barcoder.ai/docs/payments/NG/nqr) | National QR | EMVCo | 2021 | [`nqr`](https://docs.barcoder.ai/docs/standards/nqr) |
| [NIP](https://docs.barcoder.ai/docs/payments/NG/nip) | Instant | NIBSS | Active | — |
| [Zone](https://docs.barcoder.ai/docs/payments/NG/zone) | Blockchain | PTSA | 2024 | — |

## Sources

- [NIBSS - NQR](https://nibss-plc.com.ng/nqr/)
- [NIBSS - NQR Payment](https://nibss-plc.com.ng/services/nqr)
- [NIBSS - NQR Launch](https://nibss-plc.com.ng/nibss-launches-nqr-code-for-financial-services-providers/)
- [Guardian Nigeria - NQR System](https://guardian.ng/features/nibss-unveils-nqr-code-payment-system-to-promote-digital-transaction-boost-businesses/)
- [Techpoint - NQR Enhancement](https://techpoint.africa/news/nibss-nqr-payment-system/)
- [TechBooky - NQR Upgrade](https://www.techbooky.com/nibss-upgrades-nqr-digital-payment-system/)
- [BusinessDay - NQR Transform](https://businessday.ng/analysis/article/how-adopting-nqr-code-can-transform-nigerias-payments-system/)
- [NIBSS Helpdesk - NQR FAQ](https://contactcentre.nibss-plc.com.ng/support/solutions/articles/47001189994-nigeria-quick-response-code-frequently-asked-question)

## Full country report

[NG-nigeria.md](https://docs.barcoder.ai/docs/payments/NG)