Payments look simple — tap, beep, done.
But behind that five-second moment is a whole system of banks, switches, and processors talking to each other in real time.
Whether you’re designing payment features, integrating APIs, or building a fintech product, understanding how that system works is fundamental.
Do you wonder what happens between tapping your card and hearing the confirmation beep? Or why bank transfers feel instant but settlement takes longer?
In this session, Olawale Ajiboye, a senior Scrum master and fintech professional who’s worked with NIBSS, Carbon, and First Bank, simplifies it all: how money really moves, who makes it happen and why every fintech builder should care.
Understanding Card Payment Flows and Nigeria’s NIP System
The 90-minute session covers everything from card payment flows to Nigeria’s NIP system:
Card Payments Explained
- The 4 key players: issuers, acquirers, processors, and gateways
- What happens in those 2 seconds when you pay
- Why authorization, authentication, and settlement are different
- The real costs and who takes a cut
NIP & Bank Transfers
- How NIBSS powers instant transfers in Nigeria
- Why NIP is the 6th largest real-time payment system globally
- The difference between instant debits and actual settlement
- Why some banks seem faster than others
Technical Deep Dive
- How payment APIs and messaging systems work
- Monetary positions and settlement sessions
- The infrastructure connecting all Nigerian banks
- What’s next for contactless payments
Steps to Learn How Payment Systems Work in Fintech
Understanding payment systems isn’t just for engineers or product managers; it’s for anyone building fintech products, managing customer experience or driving growth.
If you want to understand how money really moves, watch the full video.
And if you’re thinking more broadly about your place in the industry, here’s a helpful read: How to Build a Career in Fintech as a Non-Engineering Talent.
For an in-depth understanding and practical insights, Treford offers a 12-week Fintech Product Management course covering payment systems, wallet infrastructure, card issuance, and more.
If you’re still trying to get some understanding with basic courses, check out this self-paced course, Building Fintech Products in Africa.
