Pan African Payment and Settlement Systems (PAPSS)
Pan‑African Payment and Settlement System (PAPSS) is an advanced platform that enables secure, real-time payments between African countries through connected banks and financial institutions. At Stanbic IBTC, we're proud to support this vision of a more integrated Africa, making cross-border payments faster, easier, and more accessible for our customers. PAPSS is currently live in the West African states Monetary Zone (WAMZ) in the following countries: Nigeria, Djibouti, Ghana, Gambia, Guinea, Sierra Leone, Liberia, Kenya, Zimbabwe, Zambia, Rwanda, Malawi.
Some of the Benefits
Instant payments across African countries:
Send and receive payments across the continent in real time, eliminating the delays traditionally associated with cross-border transactions.
Lower transaction costs
Enjoy more cost-effective cross-border payments by removing the need for intermediary correspondent banks.
Payments in local currencies
Transact conveniently in your own local currency, without the complexity of currency conversion.
Simple and convenient
Experience a seamless payment process designed to make cross-border transactions as easy as making a local payment.
How to Get It
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What it costs for customers
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- Bank charge: 0.5% of the transaction amount.
What you Get
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How to Get It
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What it costs for customers
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What you Get
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- Bank charge: 0.5% of the transaction amount.
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