UEMOA Instant Payment Reaches 30M Users, $190M in Transactions

The BCEAO’s instant payment platform, PI-SPI, has connected 30 million people and processed $190 million in transactions within 10 months of its launch. The milestone was announced at the central bank’s annual report presentation in Dakar.

The platform, launched on September 30, 2025, aims to break down financial fragmentation across the eight UEMOA countries. Previously, customers were confined to their own bank’s network, often requiring cash withdrawals to transfer money. Now, instant, secure transfers are possible between any connected institution.

Eighty financial institutions are currently connected, up from 74 at end-2025 and 45 at launch. However, Governor Jean-Claude Kassi Brou warned that full benefits will only be realized once all actors are onboarded. The deadline for banks and electronic money issuers is September 30, 2026, already extended once. Microfinance institutions have until June 30, 2027.

‘If an actor is not connected, their customers cannot benefit,’ said Brou. Ndeye Fatou Dieng Gueye, project head, emphasized that connection security is paramount. The platform’s 30 million users represent about 40% of the adult population, though transactions remain modest at 1 million, indicating adoption is still in early stages.

Article and image source: togofirst.com