Pesalink, Kenya's interbank instant payment network, has connected to the Pan-African Payment and Settlement System, enabling real-time cross-border payments from PAPSS participants into banks and mobile money operators within the Pesalink network. All transactions settle in local currencies, removing the need to route payments through US dollar correspondent banking channels.
The integration means payments originating from any of the 19 countries currently connected to PAPSS can now reach Kenyan recipients around the clock. Pesalink serves as Kenya's real-time interbank payment network operated by Integrated Payment Services Limited, connecting the country's commercial banks and providing a bridge to mobile money ecosystems.
PAPSS, developed by Afreximbank and the African Union, now connects 19 countries, more than 160 commercial banks, and 15 national payment switches across the continent. The platform was designed to eliminate the estimated five billion dollars annually lost to currency conversion costs in intra-African trade by enabling direct settlement between local currencies.
Kenya represents a significant addition to the PAPSS network given its position as one of East Africa's most digitally advanced payment markets. The Pesalink-PAPSS connection creates a direct link between Kenya's domestic instant payment infrastructure and the continent-wide cross-border settlement network, following PAPSS's broader expansion from its pilot phase in the West African Monetary Zone to a pan-continental infrastructure.