Pan-African Payment and Settlement System (PAPSS)
The Pan-African Payment and Settlement System (PAPSS) is a cross-border financial market infrastructure that enables instant payment transactions between African countries in local currencies. It connects banks, payment service providers, and other financial intermediaries across the continent.www.papss.com
10
MENTIONS
4
EPISODES
4
PODCASTS
Search complete. 10 mentions across 4 episodes found for "Pan-African Payment and Settlement System (PAPSS)".
Sep 23, 2026
Synthetic SalmaHOST
The bank plans to connect its Pan-African payment and settlement system to Instapay, and six local banks have already applied to our central bank for approval.
Synthetic SalmaHOST
The PAPSS system already runs across nearly 30 African countries, and that covers more than 200 financial institutions.
Synthetic SalmaHOST
Now picture what would be the case instead.
Synthetic SalmaHOST
Let's say an importer here is paying a counterparty in Kenya and routes the money through a correspondent bank.
Synthetic SalmaHOST
There's obviously still some building to do.
Synthetic SalmaHOST
Islam Magdi, a senior economist and macroanalyst, says Instapay was built to move money at home, so the cross-border layer still has to be laid on top.
Synthetic SalmaHOST
And the PAPSS has been learning on the job, too.
Synthetic SalmaHOST
Leaning on central banks to fund every settlement slowed things down, so commercial banks now handle the payments directly under central bank supervision.
MuyiwaHOST
I feel like that, that's as gangster as it gets.
NnannaHOST
Yeah, and another employee is also leading the PAPSS initiative for Africa.
NnannaHOST
Maybe just for context for listeners who don't know what PAPSS is and why that's also a big deal.
NnannaHOST
PAPSS is the current African, as part of the African Free Trade Agreement, AfCFTA, PAPSS is the initiative that seeks to connect all the central banks in Africa together, so we can have instant payments across the continent the way we have instant payments within countries.
NnannaHOST
So that's also a very big adventure, and it's being led by someone who was at Interswitch.
MuyiwaHOST
What's even, what's the latest with PAPSS? I feel like I haven't seen updates on it in a while.
MuyiwaHOST
I don't know if it's, is that not been following or has not, they've just not been in the news a lot.
NnannaHOST
It's a very ambitious project.
Jonathan AremuGUEST
Then see what we are doing.
Jonathan AremuGUEST
And then they put in place their own Pan-African payment and settlement system.
Jonathan AremuGUEST
It's more or less the same thing.
Jonathan AremuGUEST
Theirs is Pan-African payment.
Jonathan AremuGUEST
And they have its own currency.
Jonathan AremuGUEST
And each and every one of us are going to now meet at the top.
Jonathan AremuGUEST
Which is the top? At the top is Pan-African Payment and Settlement System.
Jonathan AremuGUEST
That's PAPS.
Douglas OckwatchGUEST
We build from that.
Samuel KantaiGUEST
Actually, as I see it, that Pan-African payment and settlement system is what is going to lead to the common currency.
Samuel KantaiGUEST
Because as we trade with it, and I'm hoping...
Douglas OckwatchGUEST
It should be the foundational block.
Douglas OckwatchGUEST
In the exchange.
Douglas OckwatchGUEST
Yes.
Samuel KantaiGUEST
Now, with the Pan-African payment and settlement system, as it gets adopted more and more, at some point, the next challenge will be these losses.
Samuel KantaiGUEST
Because what the PAPS solves is trade between countries.