PAPSS - Introduced to Aid Intra-Africa Trade And Payment
Posted: January 15th, 2022, 9:13 am
PAPSS stands for Pan-Arican Payment and Settlement System. Its similar in function to NIBBSS. While NIBSS is for inter-bank settlement, PAPSS is inte-country in Africa only!
Got the idea?
Before now, sending money from Nigeria in Naira to Ghana in Cedis required internaytional intermediary banks. And before now, this arrangment has costed the continent of over 41 nations billions of dollars. And worst of it, they are not instant payments! But those days are gone!
With the leadership of AfreximBank, AU and AFcTA, PAPSS was born to facilitate intra-country trade and payment processing with ease and speed.
With PAPSS, you can send money in Naira directly to Johannesburg without intermediary and PAPSS does the exchange and direct credit. And payment will be instant!
Let's embrace PAPSS.
Before now, sending money from Nigeria in Naira to Ghana in Cedis required internaytional intermediary banks. And before now, this arrangment has costed the continent of over 41 nations billions of dollars. And worst of it, they are not instant payments! But those days are gone!
With the leadership of AfreximBank, AU and AFcTA, PAPSS was born to facilitate intra-country trade and payment processing with ease and speed.