Access Bank affirms PAPSS enhances real-time settlement, financial integration across Africa

*Access Bank Plc remains a long-standing champion of seamless cross-border financial flows, having played a prominent role at the forum through its flagship AccessAfrica platform, stating PAPSS is regarded as a cornerstone for Africa’s next phase of economic integration, says Naco Bolote, Head of International Remittance & Payments for Access Bank’s African subsidiaries

Isola Moses | ConsumerConnect

Access Bank Plc has emphasised PAPSS remains a cornerstone for Africa’s next phase of economic integration.

The bank stated that platform helps in reducing reliance on third-party currencies, such as the US dollar, cutting transaction delays, and lowering operational costs across the continent.

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ConsumerConnect reports industry stakeholders developed and designed PAPSS to enable instant, secure, and efficient cross-border payments in African local currencies.

The initiative is being celebrated as a “transformative innovation” for the continent.

Access Bank team at the PAPSS Forum        Photo: Independent

Access Bank, at a recent forum, said high-level gathering convened policymakers, regulators, financial institutions, and payment specialists to examine how Africa could build an interoperable and sovereign payment ecosystem capable of accelerating trade and economic growth across the continent.

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The meeting with the theme “Building an interoperable and sovereign African payment ecosystem for trade and economic growth”, also underscored the urgent need for payment systems that are resilient, interconnected, and capable of supporting small businesses and SMEs while boosting intra-African trade under the African Continental Free Trade Area (AfCFTA).

Access Bank is a long-standing champion of seamless cross-border financial flows, played a prominent role at the forum through its flagship AccessAfrica platform, report said.

It is equally noted that AccessAfrica already facilitates fast, affordable, and secure payments across more than 20 African corridors, positioning the bank at the forefront of the continent’s payment transformation.

Representing the bank at the forum, Naco Bolote, Head of International Remittance & Payments for Access Bank’s African subsidiaries, and Aminat Olatunji, Unit Head of Remittances, contributed expert insights into the evolving settlement landscape and the future of cross-border financial infrastructure.

The leading financial institution as well said their participation highlighted Access Bank’s depth of experience in real-time payments and its ongoing investment in technology that empowers individuals, businesses, and entire markets.

Bolote stated: “The progress made with PAPSS reinforces Access Bank’s commitment to real-time settlement and financial integration across Africa.

“We remain dedicated to collaboration and innovation, ensuring Africans can move money quickly, reliably, and at scale.”

The Head of International Remittance & Payments for Access Bank’s African subsidiaries also outlined the significant benefits PAPSS brings when combined with AccessAfrica’s capabilities.

He stated these include instant local-currency settlement that reduces foreign-exchange pressures; predictable, fast transfers across more than 20 African countries; and expanded availability, with PAPSS currently live in eight Access Bank markets and further deployments planned for 2026.

Industry participants also agreed that PAPSS is redefining Africa’s payment architecture by enabling banks and businesses to transact securely like never before—regardless of borders, currencies, or regulatory differences, according to report.

With Access Bank’s pan-African network and its commitment to digital innovation, the institution is widely regarded as a major catalyst for scaling PAPSS adoption and deepening financial connectivity across the continent.

It was gathered that Access Bank commended PAPSS, Afreximbank, and the AfCFTA Secretariat for their strategic leadership in advancing the infrastructure needed for a more integrated, sovereign, and economically empowered Africa.

According to Access Bank, its role in shaping this interoperable future appears is set to grow even stronger in driving the African continent closer to a seamless, self-reliant payment ecosystem capable of unlocking unprecedented opportunities for trade and prosperity.

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