2023-11-01 17:29:00
(Ecofin Agency) – The issuing body of West African States therefore wishes to revolutionize and simplify the field of sub-regional payments for the various populations, thereby boosting financial flows.
The Central Bank of West African States is working on a project for an instant payment system for the populations of member countries of the West African Economic and Monetary Union.
The goal is to have an interoperable and operational platform 24/7 to process all types of financial transactions in the sub-region, regardless of the type of account used.
The sub-regional institution has already started to mobilize application developers “ who want to integrate a payment solution into their products », to learn regarding the project during a presentation webinar scheduled for November 16, 2023. The detailed operation of the future payment system will be presented in particular, announcement TogoFirst.
This news marks the growing interest in technologies in the development of inclusive financial solutions in WAEMU. The BCEAO notably stated that it wanted to strengthen the monitoring of fintechs in this community space.
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