African cross‑border payment systems have grown, yet businesses that operate between countries continue to struggle with fragmented networks that impede money movement.

At the Moonshot 2026 conference, participants highlighted the need to harmonise regulations, link national payment infrastructures and invest in shared financial platforms to support regional trade.

The Pan‑African Payment and Settlement System (PAPSS) has broadened its reach to over 30 countries, involving 24 central banks, more than 200 commercial banks and payment service providers, and 16 switches.

PAPSS officials say the next priority is shifting from network expansion to actual usage by businesses and consumers, acknowledging that connectivity alone does not guarantee easy merchant access.

For firms, practical value hinges on receiving payments, settling supplier invoices and managing transactions without excessive delays or fees, which depend on how financial institutions translate network links into bank‑level services.

Differences in payment infrastructure and regulatory rules across markets affect transaction speed and cost, often forcing companies to build separate processes for each country.

Regulatory harmonisation is seen as central to reducing fragmentation; consistent rules would enable payment providers to offer services more easily across borders.

Beyond technology, businesses need predictable currency conversion, reliable settlement times and confidence that transactions will complete within commercially useful timeframes, as delays can strain cash flow and supplier relationships.

Fintech firms such as Mastercard and Flutterwave are part of the broader dialogue, offering services like cash‑flow management, fraud reduction and customer insights that complement payment acceptance for cross‑border merchants.

The ultimate test for regional payment integration will be how effectively financial institutions connect their systems and regulators simplify cross‑border service provision, turning network connections into reliable trade tools.