The Bank of Namibia (BoN), Instant Payments Namibia (IPN) and NamClear have signed a Declaration of Intent (DoI) to integrate the country’s instant payments platform with its national clearing infrastructure, a move aimed at accelerating digital payments and modernising Namibia’s financial system.
The agreement brings together the country’s instant payment capability and existing clearing and settlement infrastructure, laying the foundation for a more efficient, resilient and interoperable national payments ecosystem.
The declaration was signed by Bank of Namibia Governor Ebson Uanguta, IPN Chief Operating Officer Marsorry Ickua and NamClear Managing Director Fabian Tait.
The initiative is expected to strengthen the way electronic payments are processed, cleared and settled across the banking system, while reducing fragmentation within Namibia’s digital payments landscape.
The three institutions said the partnership builds on NamClear’s established role as the country’s clearing house and its long-standing integration with the Bank of Namibia through the Namibia Interbank Settlement System (NISS).
By aligning the two payment platforms, the parties aim to improve interoperability between banks and payment service providers, enabling faster, more reliable and seamless digital transactions for businesses and consumers.
The collaboration comes as demand for real-time payments continues to grow, driven by increasing digitalisation of financial services and changing customer expectations.
The institutions said modern payment systems must deliver the same speed, convenience and reliability that consumers have come to expect from digital communication technologies.
Beyond faster transactions, the integrated payments infrastructure is expected to improve financial inclusion by expanding access to instant payment services, enhancing competition and strengthening the efficiency of Namibia’s financial sector.
The Declaration of Intent marks the latest step in the Bank of Namibia’s efforts to modernise the country’s payments infrastructure as digital transactions increasingly become the preferred method of payment across the economy.
