The Chief Executive Officer (CEO) of the Pan-African Payment and Settlement System (PAPSS), Mr Mike Ogbalu III, has led a two-member delegation to pay a courtesy visit to Prudential Bank Limited.

The engagement provided a platform for strategic discussions on collaboration, innovation and the future of Africa’s cross-border payment ecosystem. Prudential Bank was among the first financial institutions to adopt the PAPSS platform in 2022.

Addressing the meeting, Mr Ogbalu III emphasised the importance of strategic partnerships in building a seamless, inclusive and sustainable financial landscape across the continent. He commended Prudential Bank for its dedication to the PAPSS platform since its inception.

“Prudential Bank has been a committed partner on this journey from inception. You have led profound campaigns, especially with your school fees promotions, which have energised other banks to join the platform. We are here to assure you that we are devoted to this relationship for the long haul,” he said.

Responding, the Acting Managing Director of Prudential Bank, Mr Ebow Quayson, assured the PAPSS team of the bank’s commitment to re-engineering internal processes to ensure seamless customer transactions on the platform.

“We are working with our Digital Transformation Team to ensure that customers and Ghanaians transact effortlessly on the PAPSS platform. These include enabling transactions on our mobile app and other digital platforms. We are totally committed to this inter-African payment platform, given its immense capabilities to facilitate African trade,” he stated.

Officials from both institutions took turns to update the meeting on progress made in their respective areas and explored ways to improve transaction performance. A joint working committee was subsequently formed to follow up on all agreed action points.

PAPSS is a payment platform that enables banks and financial institutions in Africa to send and receive payments across the continent in local currencies. It serves as a digital highway for seamless inter-African transactions, reducing reliance on international payment systems and making cross-border payments faster and more cost-effective.