Senegal leads UEMOA in instant payment system adoption

Senegal has emerged as a leader in the West African instant payment revolution within the West African Economic and Monetary Union (UEMOA). According to data from the BCEAO as of July 31, 2026, Senegal leads the region with 24 authorized institutions participating in the Interoperable Instant Payment System (PI-SPI), slightly ahead of Côte d’Ivoire, which has 23 participants.

The PI-SPI serves as a common infrastructure designed to allow seamless transactions between different financial networks, such as transferring funds from a traditional bank account to a mobile money wallet or a microfinance institution. The system operates 24/7, ensuring funds are available in less than ten seconds. Senegal’s participant list is highly diverse, comprising 17 banks, two electronic money issuers, one payment institution, and four microfinance institutions.