Growth of Africa’s Instant Payment Systems Accelerates Between July 2024 and June 2025

Africa’s journey toward seamless, real-time payments continues to gain momentum. Between July 2024 and June 2025, five new domestic Instant Payment Systems (IPS) went live across the continent, raising the total number of domestic systems to 33 across 25 countries. This is according to the SIIPS 2025 Report.

This marks a significant expansion from the 31 live systems recorded in June 2024. When combined with the three active regional systems, the total number of live IPS platforms across Africa reached 36 as of June 2025.

The continued growth in domestic and regional payment infrastructure highlights Africa’s rapid adoption of digital financial systems designed to enable faster, cheaper, and more secure transactions. Each new IPS represents a step forward in strengthening financial integration and reducing the reliance on cash-based transactions across the continent.

The five new systems launched within this period reflect a diverse mix of technological innovation and cross-sector collaboration. They include Switch Mobile in Algeria, Eswatini Payment Switch (EPS) Fast Payment Module, LYPay in Libya, Salon Pement Swich in Sierra Leone, and the Somalia Instant Payment System (SIPS). These additions demonstrate a continent-wide drive to modernize financial infrastructure and deepen financial inclusion through interoperability between banks and non-bank financial service providers.

In addition to the new launches, there were notable changes in the naming and classification of several systems. Two systems listed in the SIIPS 2025 report were recorded under new names compared with SIIPS 2024.

Morocco’s MarocPay has been renamed Switch Al Maghrib (SWAM), while Taifa Moja in Tanzania is now referred to as Tanzania Mobile Money. These renamings often reflect institutional restructuring, rebranding efforts, or shifts in ownership and operational focus, underscoring the evolving nature of Africa’s payments ecosystem.

Furthermore, two systems underwent reclassification based on the categories of Payment Service Providers (PSPs) they allow to participate. SWAM (Morocco) was reclassified from a cross-domain IPS to a mobile money IPS, signaling a stronger focus on mobile-led transactions and services. Conversely, PesaLink (Kenya)—previously categorized as a bank IPS—was reclassified as a cross-domain IPS, recognizing its broader interoperability with both banks and non-bank PSPs. These changes illustrate the dynamic adaptation of IPS frameworks to reflect the realities of market participation and technological advancement.

Of the five new systems introduced between July 2024 and June 2025, four are cross-domain platforms, meaning they support participation by both banks and non-bank financial institutions such as mobile money operators and fintechs (see Box 0.3). The four systems—Switch Mobile (Algeria), EPS Fast Payment Module (Eswatini), Salon Pement Swich (Sierra Leone), and SIPS (Somalia)—are designed to promote greater financial inclusion through interoperability. By enabling users across different financial networks to send and receive money seamlessly, these systems are laying the groundwork for a more integrated and efficient digital economy.

The classification of an IPS “type” depends on its interoperability arrangements, which determine the range of PSPs allowed to participate (see Box 0.2). As more countries adopt cross-domain frameworks, Africa is moving closer to achieving universal real-time payment interoperability—one that bridges traditional banking and digital financial services, empowers consumers, and accelerates economic growth through faster and more reliable payment systems.

Read Also: 49 Billion Transactions Were Processed Across The African Continent – SIIPS Report 2024