Instant payment systems (IPSs) are becoming critical national infrastructure across Africa, with nearly half of African Union member states already operating a live system. Yet experience across the continent shows that building the payment rail alone is not enough.

This white paper examines what differentiates IPSs that scale into widely used, economy-wide platforms from those that struggle to gain traction. Drawing on interviews and focus groups with payment service providers (PSPs) in 20 African countries, it highlights key barriers faced by industry participants and offers practical guidance for central banks in their evolving roles as regulators, overseers, catalysts, and operators of IPSs.

The publication was coauthored by the AfricaNenda Foundation, the Arab Monetary Fund, the Better Than Cash Alliance, and the World Bank.