FirstBank, the premier bank in West Africa and a leading financial inclusion service provider, has announced the successful integration of the Pan-African Payment and Settlement System (PAPSS) into its flagship digital banking platform, the LIT App.
This milestone marks a major step forward in advancing seamless, secure, and real-time cross-border payments across Africa — empowering individuals, SMEs, and enterprises to send and receive funds instantly in local currencies.
PAPSS, developed by the African Export-Import Bank (Afreximbank) in collaboration with the African Union (AU) and the African Continental Free Trade Area (AfCFTA) Secretariat, is a groundbreaking financial infrastructure designed to facilitate instant, low-cost payments in local currencies between African countries. It aims to eliminate the long-standing bottlenecks of relying on foreign intermediaries for intra-African trade settlements, helping the continent achieve one of the key objectives of the AfCFTA — a unified, self-sustaining African market.
Speaking on the integration, Chuma Ezirim, Group Executive, e-Business and Retail Products at FirstBank, said:
“The integration of PAPSS into the LIT App is a testament to FirstBank’s commitment to delivering innovative, customer-centric solutions that simplify and enhance financial transactions. This milestone aligns with our strategic goal of deepening digital capabilities and expanding access to seamless cross-border payment services across Africa.”
By embedding PAPSS into its digital ecosystem, FirstBank continues to lead the way in digital transformation and regional financial integration. The initiative supports the bank’s broader mission of driving financial inclusion and enabling borderless banking that connects people, businesses, and opportunities across the continent.
Mike Ogbalu, CEO of PAPSS, added:
“Every time an individual, an SME, or a company sends money instantly within Africa in their own currency, we are not just moving funds — we are connecting ambitions, supporting livelihoods, and bridging dreams across borders. This collaboration with FirstBank and their LIT App brings us a step closer to making African borders invisible to the movement of money, so that the continent’s entrepreneurs and families can focus on what matters most: building their future, not battling payment barriers.”
The LIT App, FirstBank’s award-winning digital banking platform, already provides a suite of innovative features such as virtual cards, scheduled payments, split bills, and multiple transfers in one go — catering to the fast-paced lifestyles of modern customers. With the integration of PAPSS, the app now empowers users to send funds directly to other African countries in their local currencies, removing the need for conversions into U.S. dollars, British pounds, or euros.
This functionality is a game-changer for cross-border commerce, particularly for SMEs and entrepreneurs within the AfCFTA framework. It simplifies international business operations, lowers transaction costs, and ensures faster settlement — all while strengthening Africa’s internal trade ecosystem.
The integration also supports the continent’s growing digital economy by expanding access to inclusive financial services. Millions of Africans who were previously limited by currency restrictions or high remittance fees can now engage more freely in trade and digital payments. It represents a tangible step toward achieving Africa’s long-term financial independence and resilience through technology.
By combining FirstBank’s century-long heritage and digital innovation leadership with PAPSS’s revolutionary infrastructure, this collaboration directly supports the AfCFTA’s vision of building a single African market. It removes friction from cross-border transactions, fosters business growth, and enhances the convenience of financial services for both individuals and enterprises.
As Africa continues its rapid digital transformation, initiatives like this strengthen the foundations for economic integration and prosperity. The ability to send and receive money instantly, securely, and affordably within the continent unlocks unprecedented opportunities for trade, investment, and collaboration — enabling African economies to grow together, on their own terms.
The integration of PAPSS into the LIT App underscores FirstBank’s commitment to innovation, inclusion, and leadership in the African financial landscape. It reflects a bold vision of a future where payments are instant, borders are invisible, and Africa’s financial ecosystem thrives as one interconnected network.
Through this partnership, FirstBank and PAPSS are redefining the future of payments in Africa, breaking down barriers to trade and financial inclusion — one transaction at a time.
