The Pan-African Payment and Settlement System (PAPSS) is preparing to shift its focus from building its network to driving mass adoption and transaction growth as cross-border payment activity accelerates across the continent.
PAPSS Chief Executive Officer Mike Ogbalu III said the platform now operates in more than 30 African countries, connecting 24 national and regional central banks, more than 200 commercial banks and payment service providers, and 16 switches.
The network’s expansion has been accompanied by a sharp increase in usage. Between comparable periods in 2025 and 2026, transaction volumes across PAPSS rose by approximately 1,000%, while transaction values increased by about 120%.
Nigeria, one of the largest contributors to the network’s growth, recorded an approximately 1,100% increase in transaction volumes and a 125% increase in transaction values over the same period.
“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,” Ogbalu said.
PAPSS said its transactions have generated cost savings of between 92% and 95% per transaction, alongside a 99.99% reduction in processing time and up to an 80% reduction in foreign-exchange requirements.
The system enables cross-border payments through participating financial institutions, including transactions using African currencies, connecting payment networks that have historically operated within national and regional markets.
About 10 additional countries joined the PAPSS ecosystem during 2026, with further expansion expected before year-end. The platform also has a termination footprint covering more than 300 financial institutions through strategic partnerships.
“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,” Ogbalu added.
The next phase will focus on deeper market activation, greater customer awareness, priority payment corridors and wider availability of PAPSS services through participating financial institutions.
PAPSS currently offers the PAPSS Instant Payment System, the PAPSS African Currency Marketplace and PAPSSCARD, while additional solutions are being piloted and are expected to be announced later in 2026.
The strategy will be further discussed at PAPSS COWRY 2026, the system’s annual payments conference, scheduled for Nov. 26 and 27 in Addis Ababa, Ethiopia, and 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,” Ogbalu concluded.
