The Central Bank of West African States (BCEAO) is continuing to modernise payment infrastructure across the West African Economic and Monetary Union (UEMOA).
Its Instant Payment System now includes 74 connected financial institutions.
In its 2025 Annual Report, presented on Wednesday in Dakar by BCEAO Governor Jean-Claude Kassi Brou, the central bank highlighted the initial results of the Interoperable Platform of the Instant Payment System (PI-SPI), which had 74 financial institutions connected as of December 31, 2025.
Launched in 2025, the platform aims to address the main barriers hindering the development of digital payments across the union. Until now, electronic transactions had been constrained by fragmented payment systems, limited interoperability between service providers and transfer costs often considered too high.
Through PI-SPI, customers of banks, electronic money institutions and microfinance institutions can now make instant money transfers between different financial service providers at any time, 24 hours a day, seven days a week.
The platform is built around several innovations designed to simplify payments while improving security. It allows users to send or receive funds through an Alias, such as a mobile phone number, without having to provide complex bank account details. Confirmed transactions are irreversible, and exchanges rely on the international ISO 20022 standard, recognised for enhancing the security, traceability and interoperability of payment systems.
By the end of 2025, 74 institutions had joined the platform, including 58 banks, seven electronic money institutions and nine microfinance institutions, reflecting the gradual adoption of this new regional financial infrastructure by key industry players.
For the BCEAO, PI-SPI represents a strategic tool for accelerating financial inclusion and supporting the digital transformation of UEMOA economies. By enabling fast, secure and interoperable payments, the platform is expected to help reduce reliance on cash, facilitate commercial transactions and improve access to financial services for populations across the region.
The central bank now intends to accelerate the rollout of the infrastructure by continuing awareness campaigns among financial institutions, merchants and the general public in order to encourage widespread adoption across all eight member states of the Union.
TE/Sf/lb/as/APA