Exciting news for multinational eCommerce merchants trading in Africa! 
The Pan-African Payment and Settlement System (PAPSS) is transforming cross-border payments across the continent.
Here’s what this means for your business:
- Simplified Payments: Say goodbye to the historical complexities and costs associated with foreign exchange for cross-border transactions. PAPSS will simplify the entire process.
- Instant/Near-Instant Payments: Experience faster transactions with instant or near-instant transfers of funds between you and your customers, regardless of their location in Africa.
- Local Currency Transactions: Payments will be made in local currencies, eliminating the hassle and costs of currency conversion for both you and your customers.
- Reduced Costs: PAPSS will reduce the costs associated with cross-border payments, leading to operational efficiencies and increased profitability.
- Improved Working Capital: Benefit from payment certainty and faster transaction times, leading to improved working capital management.
- Access to New Markets: PAPSS can help unlock economic opportunities by making cross-border trade easier and more efficient, facilitating access to new African markets.
- Growing Network: PAPSS is bringing together a growing network of banks, payment service providers, and other financial intermediaries across Africa, expanding reach and payment options.
PAPSS is a game-changer for cross-border trade in Africa, offering a secure and efficient financial market infrastructure. By connecting African banks and payment service providers, it will enable instant and secure payments in local currencies. This is a significant step towards accelerating Africa’s trade and creating a more interconnected and prosperous continent.
Contact us to learn more about how your multinational eCommerce business can benefit from interconnected payment services!
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