Visa | Business Insights Africa Magazine

Sunday, November 1, 2026

Home Tags Visa

Gadgets

Credit Bank, Visa launch multi-currency prepaid card

- November 20, 2020

Credit Bank’s Konnect Prepaid Card will be a contactless Touch and Go card that can be used to shop, dine, fuel, and pay for...

MOST POPULAR

Geopolitical tensions, adverse weather affect Kakuzi trading results

March 26, 2025

East African Banks dominate this year’s African Banker Awards

May 22, 2018

Binance cryptocurrency exchange opens in Uganda

October 24, 2018

Standard Chartered introduces new branch model design – Co shared space...

December 9, 2021

HOT NEWS

Gadgets

Safaricom CEO Announces His Return As The Company Hits 55.29 Billion...

Instant 24/7 bank-to-bank transfers across African borders in local currencies. Simpler cross-border payments for individuals, businesses, and SMEs. 80 plus Pesalink network participants now linked to 160 plus PAPSS participating banks. Pesalink, Kenya’s de facto instant payment network, has partnered with the Pan-African Payment and Settlement System (PAPSS) to ease cross-border payment and speed up regional financial integration. The partnership enables instant 24/7 cross-border payments from PAPSS participants into banks and mobile money operators within the Pesalink network in Kenya, all settled in local currencies. This reduces complex correspondent banking requirements and reliance on foreign reserve currencies. PAPSS, an initiative of the African Export-Import Bank (Afreximbank) in collaboration with the African Union and the AfCFTA Secretariat, enables cross-border payments between African countries. Pesalink is now a Technical Connectivity Provider. It means that 80 plus Kenyan bank, fintech, SACCO and telco participants on the Pesalink network will be connected to 160 plus commercial banks and fintechs on the PAPSS platform. Cross-border payments remain expensive and slow for many African businesses. The 2023 (http://apo-opa.co/4baDSh7) World Bank Remittance Prices report indicates that sending money across African borders incurs on average 7-8% of the total value sent (above the global average of 6–7%). Settlement can also take three to seven business days. The Pesalink–PAPSS partnership will reduce costs, speed up settlements, and help individuals, SMEs and businesses send money more efficiently across borders. Speaking during the partnership signing held at Pesalink offices in Nairobi, PAPSS CEO Mike Ogbalu III said, “For PAPSS to deliver true impact, collaboration with national and private switches like Pesalink is essential. Pesalink is the first switch we’ve piloted for transaction termination in Kenya, and we are already seeing greater adoption by opening more channels for seamless, local-currency cross-border payments across Africa.” Pesalink CEO, Gituku Kirika, said “Kenyan banks will now be able to offer faster, cheaper cross-border payments. They will be helping their customers grow more regional trading relationships and thrive in a more integrated digital economy.”

News

Pesalink and Pan-African Payment and Settlement System (PAPSS) Unlock Cross-Border Payments...

News

Quickmart Launches e-Commerce Platform as it Marks 18 Years

Lifestyle

Era of Leaded Petrol Over, Eliminating a Major Threat to Human...

EDITOR PICKS

Henry Dannell secures $20 million trade finance facility to support commodities...

October 27, 2026

Emirates and the Kenya Tourism Board sign partnership agreement to drive...

October 21, 2026

Africa’s hydrogen ambitions bring water, infrastructure and investment into focus

October 21, 2026

Third Africa Islamic Finance Forum Confirmed for Nigeria March 2018

March 23, 2018

EABL signs lease deal for office space in upcoming Garden City...

March 14, 2018

Facebook Introduces Messenger Rooms and More ways to connect

April 27, 2020

Tag: Visa