The governments of Africans are growing globally, driven by technological advancements that offer speed, efficiency, and accessibility and are transforming the way people, businesses, and governments make and receive payments. The governments are working on fast/instant payments systems (FPS/IPS) which underpin inter-operable payment services that enable real-time receipt of funds in payee’s account on a 24/7/365 basis.
By establishing inclusive infrastructures and an enabling legal and regulatory environment, African countries can draw substantial benefits. Inclusive FPS/IPS can level the playing field between banks and non-bank payment service providers, fostering competition and innovation to meet the evolving needs, habits, and demands of users.
