PAPSS expands African payment network to over 30 countries

The Pan-African Payment and Settlement System (PAPSS) is entering a new strategic phase focused on accelerating adoption and scaling transaction growth across the continent. Currently operating in more than 30 African countries across all five regions, the platform connects 24 central banks, over 200 commercial banks and payment service providers, and 16 switches.

According to PAPSS CEO Mike Ogbalu III, the system has seen massive growth between 2025 and 2026, with network-wide transaction volumes increasing by approximately 1,000% and transaction values rising by about 120%. Nigeria has been a primary driver of this expansion, recording a 1,100% increase in transaction volumes.

The platform offers significant operational efficiencies, including cost savings of 92% to 95% per transaction, a 99.99% reduction in processing time, and a reduction in foreign exchange requirements of up to 80%. Following the initial phase of building infrastructure and establishing trust, the organization intends to focus on network activation and deepening adoption starting in 2027.