PAPSS

The PAPSS (Pan-African Payment and Settlement System) is a centralized payment and settlement infrastructure developed to facilitate seamless intra-African trade and cross-border transactions.

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The PAPSS (Pan-African Payment and Settlement System) is a centralized payment and settlement infrastructure developed to facilitate seamless intra-African trade and cross-border transactions. It enables instant, secure, and cost-effective payments across African countries in local currencies, eliminating the need for third-party currency conversions and reducing reliance on intermediary banks.

 

Designed to revolutionize the way cross-border payments are processed on the continent, PAPSS ensures faster transaction completion, reduced costs, and improved transparency for individuals and businesses alike.

 

Through PAPSS, Access Bank customers—both individuals and corporate entities—can initiate instant cross-border payments in Naira to beneficiaries in 11 African countries, thereby supporting trade, remittances, and broader regional economic integration.

 

PAPSS is currently live in the following countries: Nigeria, Ghana, Sierra Leone, Liberia, Gambia, Zimbabwe, Guinea, Djibouti, Kenya, Zambia, Rwanda and Malawi

FEATURES/VALUE PROPOSITION

Instant Settlement

Beneficiaries receive funds within 120 seconds of transaction initiation.

 

Transfer Limit

Customers can send any amount, subject to FX availability.

 

Extensive Reach Across Africa

Supports cross-border payments to 11 African countries: Ghana, Sierra Leone, Liberia, Gambia, Zimbabwe, Guinea, Djibouti, Kenya, Zambia, Rwanda, Malawi.

 

Currency Support

- Send Currency: NGN (Naira)

- Receive Currency: Local currency of the destination country

 

Fx Conversion Rate: Competitive rate applies on the transaction

 

Digital Capabilities: Available on the Accessmore app and Inbranch (over 500 branches) 

 

Flexible Documentation Requirements

- Individuals: Transactions up to $2,000 Naira equivalent monthly can be processed without supporting documentation

- Corporate Entities: Transactions up to $5,000 Naira equivalent monthly can be processed without supporting documentation.

For transactions exceeding these thresholds, full documentation as stipulated in the CBN Foreign Exchange Manual remains mandatory.

Benefits

  • Reduces the bottleneck associated with correspondent banking and processing delays.
  • Instant payment in local currencies. 
  • The beneficiary has immediate availability of funds.
  • Availability on multiple channels – AccessMore and In Branch.
  • Removes the dependencies on third currencies and correspondent banking; facilitates intra-African trade. 
  • Guarantees the final settlement of the funds to the recipient participant.
  • Reduces the cost of sending money across African borders with lower transaction fees.
  • Available to both individual and corporate customers 

Frequently Asked Question

PAPSS stands for the Pan-African Payment and Settlement System. It enables instant, cross-border payments across African countries using local currencies.
PAPSS was created to simplify cross-border transactions, reduce dependency on hard currencies, and provide an alternative to expensive and lengthy correspondent banking relationships.
PAPSS is available to all Access Bank customers.
Yes, under the new guidelines, all forms of transactions, including trade and invisible transactions, can be treated.
A: Both can use it. A student in Zambia can receive money from their parent in Ghana, and a Kenyan exporter can receive payment from a buyer in Sierra Leone—all through PAPSS in local currencies.
A: The beneficiary receives funds in less than 120 Seconds.
A: Customers send from their local currency account (e.g., GHS, KES, GMD, ZMW, GNF), and recipients receive in their local currency—eliminating double conversions and FX losses.
A: Yes
  • Individuals: Up to $2,000 equivalent (in local currency) monthly
  • Corporates: Up to $5,000 equivalent monthly Above these limits, documentation is required as per each country’s central bank FX policy.
A: Currently, PAPSS supports payments across 11 African countries including Ghana, Kenya, Zambia, Sierra Leone, The Gambia, Guinea, Rwanda, Zimbabwe, Djibouti, Liberia, and Malawi. More countries are joining.
  • You send in Naira (NGN)
  • The recipient receives funds in their local currency
The Beneficiary bank must be a PAPSS participating bank.
You can initiate a PAPSS transaction through either of the following channels:
  • Visit any Access Bank branch
  • Use the AccessMore App, under the AccessAfrica Module

For further enquiries?

  • Visit the nearest Access Bank branch for more information
  • Contact your Relationship manager for further engagement.

Contact our Contact Centre today via email at contactcenter@accessbankplc.com or call us on 0700 3000 000.

  • View information page on our website


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