Namibia moves closer to instant payments
Namibia's payments sector moved closer to introducing real-time digital payment services as work advanced on instant payments, open banking and a national QR payment standard.
The developments are outlined in the Payments Association of Namibia's (PAN) 2025 Annual Report, released on Tuesday, detailing progress on several initiatives aimed at modernising the country's National Payment System.
According to the report, the NamQR standard has been finalised, open banking specifications have been completed, and work continued on the Bank of Namibia's Instant Payment Programme, which is expected to enable real-time payments between participating financial institutions.
The report also confirms that the Namibia Interbank Settlement System (NISS) has migrated to the ISO 20022 messaging standard, aligning the country's payment infrastructure with the global messaging framework increasingly used by banks and financial markets.
Speaking at the launch of the report, Bank of Namibia Deputy Governor Leonie Dunn said the next phase of payments reform would depend on cooperation across the financial sector.
"The future of payments will not be shaped by regulation or technology alone. It will be shaped by collaboration."
She said priorities under the National Payment System Vision 2030 include interoperable instant payments, operationalising NamQR, implementing open banking and strengthening cyber resilience.
Dunn said innovation should ultimately improve the customer experience rather than simply introduce new technology.
"Innovation must translate into payment services that are affordable, reliable, easy to use and secure."
PAN acting chief executive officer Mbapeua Kauuova said the association had made significant progress during the reporting period, citing the completion of the
NamQR standard and open banking specifications, continued work on the Instant Payment Programme and industry efforts to strengthen payment security.
The report states that the National Payment System Strategy 2021–2025 achieved an average implementation rate of 87% over five years.
PAN also transitioned from a Management Council to a Management Board during the reporting period in line with the Payment System Management Act, 2023.
Established in 2005, PAN develops industry rules and standards for Namibia's National Payment System in partnership with the Bank of Namibia, banks, payment service providers and payment system operators.
