The Pan-African Payment and Settlement System (PAPSS) is stepping up efforts to drive wider adoption of its cross-border payment infrastructure after recording sharp increases in transaction activity and expanding its reach to more than 30 African countries.
The payment platform has added around 10 countries to its ecosystem in 2026 alone, with further expansion expected before the end of the year. Its network now spans all five African regions and includes 24 national and regional central banks, more than 200 commercial banks and payment service providers, and 16 switches.
PAPSS Chief Executive Officer Mike Ogbalu III said the next stage of the platform’s development will focus less on building the network and more on getting businesses and consumers to use it at scale. “The first phase of PAPSS has been about building, connecting and establishing trust. We have built the infrastructure, expanded our network across Africa and demonstrated that PAPSS can deliver tangible benefits. As we move into our next phase from 2027, our focus will increasingly shift towards activating that network, deepening adoption and taking transaction growth to scale.”
The shift comes as activity on the platform continues to rise. Comparing similar periods in 2025 and 2026, PAPSS recorded an approximately 1,000 per cent increase in transaction volumes, while the total value of transactions grew by about 120 per cent.
Nigeria has been one of the largest contributors to the increase, with transaction volumes in the country rising by approximately 1,100 per cent and transaction values increasing by 125 per cent over the same period.
Beyond transaction growth, PAPSS says its infrastructure is reducing some of the costs and delays traditionally associated with cross-border payments in Africa. Transactions processed through the system have recorded cost savings of between 92 and 95 per cent per transaction, alongside a 99.99 per cent reduction in processing time and up to an 80 per cent reduction in foreign exchange requirements.
“The growth we are seeing demonstrates that the infrastructure is working and that demand is increasing as more institutions and markets participate. The next opportunity is to make these benefits available at much greater scale by working more closely with banks, fintechs, switches and other partners to bring PAPSS into the channels businesses and individuals use every day.” Mr Ogbalu added
PAPSS allows participating financial institutions to process cross-border payments using African currencies, providing a payment link between markets that have traditionally relied on separate national and regional systems.
The system’s expansion is also supported by a termination footprint covering more than 300 financial institutions through its strategic partnerships.
As it moves into its next phase, PAPSS plans to concentrate on activating existing markets, improving awareness among potential users, developing priority payment corridors and making its services more widely accessible through banks and other participating financial institutions.
The platform currently offers three main services: the PAPSS Instant Payment System, PAPSS African Currency Marketplace and PAPSSCARD. Additional solutions are being piloted and are expected to be announced later this year.
The broader strategy will come under discussion at PAPSS COWRY 2026, the platform’s annual payments conference, scheduled for November 26 and 27 in Addis Ababa, Ethiopia. The event will be co-hosted with the National Bank of Ethiopia.
“We have built the network, we have demonstrated the impact, and we are seeing usage accelerate. Our next phase is about taking all three to scale and ensuring that payments increasingly enable, rather than limit, the ability of African businesses and individuals to participate in opportunities across the continent.” Mr Ogbalu concluded.
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