Why connecting Africa's payment networks matters for businesses trading across borders
African cross-border payment systems have expanded across the continent, but businesses trading between countries still face difficulties moving money through fragmented networks. At Moonshot 2026, discussions on regional payment infrastructure focused on the need to harmonise regulatory requirements, connect national payment systems and invest in shared financial infrastructure.
The challenge is central to the development of regional trade. A business may be able to accept digital payments within its home market, but transactions involving customers, suppliers or partners in another African country can require additional processes. Differences in payment infrastructure and regulation can affect how quickly funds move and how much businesses pay to complete transactions.
The Pan-African Payment and Settlement System, or PAPSS, is one of the initiatives seeking to address those barriers. TechTrendsKE reported in September that the network had expanded to more than 30 countries, with 24 central banks, over 200 commercial banks and payment service providers, and 16 switches participating in the system.
PAPSS has described its priority as moving from network expansion towards actual use by businesses and consumers. That distinction matters because the presence of payment connections does not automatically mean merchants can use them easily for everyday trade.
For businesses, the value of cross-border payment infrastructure depends on practical outcomes. They need to receive payments from customers in other markets, settle supplier invoices and manage transactions without excessive delays or costs. A network that connects financial institutions must also translate into services that merchants can access through their banks and payment providers.
The issue was also reflected in TechTrendsKE’s October reporting on Kenya’s digital trade infrastructure. The coverage examined how mobile money, e-commerce, financing, cross-border payments and regulatory frameworks need to connect if Kenya is to participate more effectively in global digital trade.
These systems have developed at different speeds across African markets. Mobile money has become a major part of domestic payments in several countries, while banks and fintech companies have built digital services for businesses and consumers. Connecting those systems across borders requires coordination between financial institutions, payment service providers and regulators.
Regulatory harmonisation is therefore a central part of the challenge. Payment providers operating across multiple markets need to navigate different rules governing financial services, customer verification, settlement and consumer protection. When requirements differ, companies may need to build separate processes for each market, increasing the complexity of serving regional customers.
The Moonshot discussions placed shared financial infrastructure alongside regulatory coordination as part of the response. Connecting payment switches and financial institutions can help reduce fragmentation, while more consistent rules can make it easier for providers to offer services across markets.
The issue extends beyond the technology used to move money. Businesses also need predictable currency conversion and settlement processes, as well as confidence that transactions will be completed within commercially useful timeframes. Delays can affect cash flow, supplier relationships and the ability of smaller companies to trade across borders.
For fintech companies, regional payment connectivity creates an opportunity to serve businesses that operate across several African markets. Mastercard, Flutterwave and other payment providers have been part of the wider discussion about how financial infrastructure can support trade and commercial activity. At Moonshot, executives also argued that merchants need services such as cash-flow management, fraud reduction and customer insights alongside payment acceptance.
Those services are relevant to cross-border trade because merchants need to manage the wider financial consequences of transactions, not simply receive money. A payment system that supports regional commerce must connect with the tools businesses use to manage sales, suppliers and working capital.
PAPSS’s expansion provides a foundation for that work, while the emphasis on adoption places attention on whether businesses can use the network in practical trading situations. The next stage of regional payment integration will depend on how effectively financial institutions connect their systems and how regulators make cross-border services easier to provide.
For African businesses, the test is whether digital payment infrastructure can make regional trade simpler to conduct. More connections between financial institutions matter, but their value will ultimately be measured by how reliably companies can pay and get paid across borders.
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