Ecobank Group has partnered with the Pan African Payment and Settlement System (PAPSS) to facilitate cross-border transactions for the bank and its subsidiaries. The collaboration was announced at the 30th Afreximbank Annual Meeting in Ghana. PAPSS is a centralized platform launched by the African Union and Afreximbank in 2022, aimed at reducing the cost and time of cross-border payments in Africa. The partnership with Ecobank, which has a network of 33 subsidiaries across the continent, aims to enable instant payments and boost intra-African trade. PAPSS has already onboarded over 25 commercial banks on its system and operates as a real-time gross settlement system. The collaboration with Ecobank is expected to expand its reach and accelerate payment processing. Additionally, Ecobank recently partnered with neobank platform Fingo App, further enhancing its digital banking offerings in Africa.

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