Pesalink and PAPSS Streamline African Cross-Border Payments
Greatly simplifies intra-African banking and client payments for regional expats and remote workers by connecting local bank accounts across a previously fragmented network.
Pesalink and PAPSS Streamline African Cross-Border Payments
Kenya’s instant payment switch, Pesalink, has integrated with the Pan-African Payment and Settlement System (PAPSS) to enable seamless, 24/7 cross-border transfers. This partnership connects over 80 Kenyan financial institutions with more than 160 banks across the continent. The system bypasses traditional correspondent banking and the need for third-party foreign currencies, allowing transactions to be settled instantly in local African currencies.
This shift significantly reduces the friction of moving money within Africa. Historically, regional transfers could take between three and seven days to clear, with fees averaging 7% to 8%. The new integration aims to slash these costs and settlement times, making the regional financial nomad news more efficient for those living and working across borders.
Who it affects
This development is a major win for digital nomads, remote workers, and expats moving between African hubs like Nairobi, Lagos, or Accra. It simplifies the process of paying local rent, settling invoices, or transferring funds between personal bank accounts in different countries. Small business owners and freelancers who previously relied on expensive international wire transfers can now move capital faster and at a lower cost.
What to do
If you hold an account with a participating Kenyan bank, SACCO, or mobile money operator, you can now receive or send regional payments through your existing banking app, online portal, or USSD menu.
- Ensure your bank is one of the 80+ institutions linked to Pesalink.
- Verify that the recipient’s bank in the destination country is part of the PAPSS network.
- Initiate transfers in your local currency; the system handles the conversion and settlement automatically through the PAPSS framework.
While specific end-user fee structures vary by institution, you should see a noticeable decrease compared to traditional SWIFT transfers. Check our country guides for destination-specific details on banking in Kenya and across Africa.