African Banking Corporation Limited (ABC Bank) has gone live on the Pan-African Payment and Settlement System (PAPSS), enabling its customers to send and receive payments across 28 participating African countries instantly, securely and affordably. According to Business Today, the service allows individuals and businesses to make near-instant personal and business payments directly from their ABC Bank accounts to recipients' accounts in other African markets.

According to CIO Africa, Africa's payments landscape is evolving into a new phase that goes beyond mere digital transactions, focusing on the development of intelligent and interconnected financial ecosystems. This shift indicates a significant transformation in how financial services are delivered and utilized across the continent.

The Federal Government of Nigeria has announced a proposal for a pan-African payment card aimed at facilitating direct transactions between African currencies. This initiative seeks to reduce reliance on foreign currencies like the U.S. dollar, thereby lowering transaction costs and enhancing intra-African trade.

The Federal Government has proposed the creation of a cross-border payment card aimed at facilitating transactions between African currencies directly, without the need for conversion through the U.S. dollar or other third-party currencies. This initiative seeks to enhance financial integration within the continent.

The Nigeria Customs Service (NCS) and the African Export-Import Bank (Afreximbank) have reaffirmed their commitment to enhancing cooperation to promote cross-border trade and support the implementation of the African Continental Free Trade Area (AfCFTA). This renewed partnership was emphasized during a working visit by the President and Chairman of Afreximbank, according to Vanguard.

Visa, along with First National Bank (FNB) and Rand Merchant Bank (RMB), is focusing on the corporate cash market, following the trend of South Africans adopting digital payment methods at retail locations. The companies believe that businesses will increasingly move towards digital transactions, similar to consumer behavior.