With financial technology accelerating across Africa, the partnership of Access Bank Rwanda and the Pan-African Payment and Settlement System (PAPSS) is playing a key role in simplifying cross-border transactions and strengthening intra-African trade.

The bank shared insights on the payment platform during the Inclusive FinTech Forum 2026 concluded on March 12 in Kigali, where industry leaders explored how fintech innovations are reshaping banking and expanding financial access across the continent.

During the three-day forum, Prosper Nsanzebahiga, a Digital Banking Specialist at Access Bank Rwanda, highlighted the growing role of fintech innovations and discussed how PAPSS is helping simplify cross-border payments and trade within the continent.

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Nsanzebahiga explained that the forum demonstrates the rapid growth of financial technology and its potential to reshape the financial services sector. Having attended the event for a second consecutive year, he noted that each edition introduces new innovations and solutions aimed at improving financial access.

"Fintechs are rapidly growing. From what I saw in this forum compared to last year, every year has its own specialty,” he said.

Nsanzebahiga explained that PAPSS was introduced to make it easier for African businesses and individuals to send and receive payments across borders without the delays as well as address costs often associated with traditional international transfers.

PAPSS, launched by Afreximbank in collaboration with the African Union and the AfCFTA Secretariat, serves as Africa’s cross-border payment rail.

"According to him, the platform allows transactions to be processed within seconds and at a lower cost compared to conventional international payment channels. It is instant and affordable. Customers no longer have to wait for several days for a payment to go through.” he said.

Nsanzebahiga also stated that Access Bank already has its own internal cross-border payment solution known as Access Africa, designed to simplify transactions across the bank’s subsidiaries on the continent.

However, he noted that PAPSS significantly expands the reach of such services beyond the bank’s internal network, enabling payments to be made across a wider range of African markets.

"The Access Africa platform is now able to reach over 170 financial institutions across 20 countries, enabling seamless cross-border payments beyond the bank’s own network.”

Reducing dependency on hard currencies for cross-border trade

Nsanzebahiga also highlighted that one of the key advantages of the system is its ability to reduce reliance on major international currencies when conducting trade between African countries.

"Why should we convert local currency into hard currencies just to pay another African country?” he said.

By allowing transactions to be settled directly in local currencies, the system helps simplify trade and supports the broader goal of strengthening intra-African commerce.

Nsanzebahiga also reiterated that combining internal banking solutions such as Access Africa with continent-wide systems like PAPSS provides customers with greater flexibility and improved access to faster cross-border transactions.

"Where Access Africa may not reach, PAPSS enables us to broaden our presence across the continent to facilitate cross-border trade and payments,” he said.