Africa: Firstbank Integrates Papss Into Lit App for Seamless Cross-Border Payments Across Africa

AllAfricaCenterEN 3 min read 100% complete October 24, 2025 at 05:22 PM

AI Summary

medium article 3 min

FirstBank, a leading financial institution in West Africa, has integrated the Pan-African Payment and Settlement System (PAPSS) into its LIT app to facilitate instant, low-cost cross-border payments within African countries using local currencies. PAPSS was developed by Afreximbank in collaboration with the African Union and the AfCFTA Secretariat. This integration supports FirstBank's goal of enhancing digital capabilities and expanding access to seamless financial transactions across Africa. The LIT app now offers features such as virtual cards, scheduled payments, and multiple transfers, further aiding individuals and small businesses engaged in pan-African commerce by breaking down payment barriers.

Key Topics & Entities

Chuma Ezirim 40% Mike Ogbalu 50% African Export-Import Bank ×260% AfCFTA Secretariat 70% African Union 80% FirstBank ×390%

Keywords

papss 100% cross-border payments 90% firstbank 80% pan-african payment and settlement system 80% lit app 70% financial inclusion 70% african union 60% local currency payments 60% digital banking 50% afreximbank 50%

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Very Positive

Score: 0.80

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AllAfrica

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Center (0.00)

Far LeftCenterFar Right

Classification Confidence

90%

This article was automatically classified using rule-based analysis. The political bias score ranges from -1 (far left) to +1 (far right).

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papss cross-border payments firstbank pan-african payment and settlement system lit app financial inclusion african union local currency payments digital banking afreximbank

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