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No borders

amongst brothers and sisters

You can now pay for goods & services in your local currency across African borders with the Pan-African Payment and Settlement System.

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What is PAPSS?

The Pan-African Payment and Settlement System (PAPSS) is an international payment system and cross-border financial market infrastructure enabling remittance payment and trade between African countries.

Now available in the West African Monetary Zone: Nigeria, Ghana, Liberia, Sierra Leone, Guinea, The Gambia

How PAPSS Works:

PAPSS ensures instant or near-instant international money transfer between originators in one African country and beneficiaries in another.

An originator issues an international payment instruction in their local currency to their bank or payment service provider.

The payment instruction is sent to PAPSS.

The payment instruction is forwarded to the beneficiary’s bank or payment service provider

PAPSS carries out all necessary validation checks on the payment instruction.

The beneficiary’s bank clears the funds to the beneficiary in their local currency.

An originator issues an international payment instruction in their local currency to their bank or payment service provider.

The payment instruction is sent to PAPSS.

The payment instruction is forwarded to the beneficiary’s bank or payment service provider

PAPSS carries out all necessary validation checks on the payment instruction.

The beneficiary’s bank clears the funds to the beneficiary in their local currency.

An originator issues an international payment instruction in their local currency to their bank or payment service provider.

The payment instruction is sent to PAPSS.

The payment instruction is forwarded to the beneficiary’s bank or payment service provider

PAPSS carries out all necessary validation checks on the payment instruction.

The beneficiary’s bank clears the funds to the beneficiary in their local currency.

Benefits of PAPSS?

How PAPSS Benefits Customers: Corporates, SMEs, and Individuals

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Instant/near-instant payments of borderless banking transactions

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Zero hassle of currency conversion

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Improved working capital through payment certainty and faster transactions.

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Reduced cost of cross border payments.

How PAPSS Benefits Participants

Commercial Banks, Payment Service Providers, and other financial intermediaries

Simplified process that reduces the costs and complexities of foreign exchange for cross-border transactions between African markets.

Instant and secure cross-border payment capability to their customers across Africa

A platform that enables innovation in cross-border trade and access to new African markets​

How to Get Started

You can now access PAPSS. Visit sterlingpro.sterling.ng/ or

Visit any Sterling Bank Branch

See Branch locations here

Download the SterlingPro App
  1. Download and launch the application here
  2. Select the PAPSS menu
  3. Complete all necessary fields and upload required documents and then submit for processing

New to Sterling?

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