By 
Access Bank Plc has announced the integration of the Pan-African Payment and Settlement System (PAPSS) into its flagship mobile application, AccessMore, in a major step toward enhancing seamless and secure cross-border transactions across Africa.
In a statement on Tuesday, the bank said the integration underscores its commitment to simplifying payments within the continent and fostering financial inclusion under the African Continental Free Trade Area (AfCFTA) framework.
PAPSS, developed by the African Export-Import Bank (Afreximbank) in collaboration with the African Union and the AfCFTA Secretariat, serves as a centralised financial infrastructure that enables instant cross-border payments in local African currencies. The system aims to revolutionise how individuals and businesses move money across Africa by reducing transaction costs and settlement times.
To mark the launch, PAPSS Chief Executive Officer, Mike Ogbalu III, visited Access Bank’s headquarters in Lagos, where he met with the bank’s Deputy Managing Director, Chizoma Okoli, and Executive Director for African Subsidiaries, Seyi Kumapayi. The discussions focused on strengthening collaboration to optimise PAPSS capabilities within the AccessMore platform, enabling real-time, cost-effective, and transparent payments.
Okoli described the integration as a milestone in unifying Africa’s payment ecosystem.
“The integration of PAPSS into the AccessMore app marks a significant stride in our mission to connect Africa’s financial systems. With Access Bank’s extensive network across the continent, millions of customers can now enjoy faster and more efficient cross-border transactions,” she said.
Ogbalu III hailed the collaboration as a “game-changer” for cross-border trade and payment flows, adding that it aligns with AfCFTA’s objective of promoting economic integration across the continent.
“With PAPSS on AccessMore, individuals, SMEs, and corporates can now transact seamlessly across borders. We’ve built the rails; Access Bank brings the reach and innovation to expand adoption across Africa,” he noted.
Kumapayi added that the partnership reflects Access Bank’s broader vision to be the world’s most respected African bank.
“Embedding PAPSS into AccessMore opens a new era of financial connectivity for our customers across more than a dozen African markets. It’s a cost-effective and scalable solution that can accelerate intra-African trade,” he said.
The collaboration between Access Bank and PAPSS represents a significant leap toward a borderless financial ecosystem in Africa, where payments and commerce flow freely to power inclusive economic growth.
Comments