The Pan-African Payment and Settlement System (PAPSS) is preparing to shift its focus from building its continental payments network to driving wider adoption and transaction growth from 2027. In Kenya, Pesalink partnered with PAPSS to enable instant cross-border payments in local currencies.

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PAPSS CEO Mike Ogbalu III said the platform now operates in more than 30 African countries across all five regions of the continent.

The network connects 24 national and regional central banks, more than 200 commercial banks and payment service providers and 16 switches. PAPSS also has a termination footprint covering more than 300 financial institutions made possible through partnerships.

“The first phase of PAPSS has been about building, connecting and establishing trust,” Ogbalu said. “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.”

PAPSS said transaction volumes across its network increased by approximately 1,000% between 2025 and 2026. Transaction values, on the other hand, grew by about 120%.

Nigeria saw a 1,100% increase in transaction volumes and a 125% increase in transaction values over the same period.

PAPSS also reported cost savings of 92% to 95% per transaction, a 99.99% reduction in processing time and up to an 80% reduction in foreign exchange requirements.

PAPSS says its next phase will focus on bringing the system into more of the channels used by businesses and consumers.

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