BCEAO sets June 30 deadline for operators to join instant payment platform

Finance

Friday, 03 April 2026 16:52

BCEAO sets June 30 deadline for operators to join instant payment platform

(Togo First) - The Central Bank of West African States (BCEAO) is accelerating the rollout of its interoperable instant payment platform, known as PI-SPI, across the West African Economic and Monetary Union (UEMOA).

Banks, electronic money institutions, microfinance institutions and payment service providers have until June 30, 2026, to complete their connection to the system, the central bank said.

Launched on Sept. 30, 2025, the PI-SPI platform enables round-the-clock transactions. It is designed to facilitate instant digital payments between financial institutions across the bloc while reducing transaction costs and processing times.

As of April 2, 2026, 80 institutions across the region were already connected, including 59 banks, nine electronic money institutions, 11 microfinance institutions and one payment service provider. An additional 42 institutions are conducting live tests and aim to go live soon.

The BCEAO urged all relevant institutions to speed up their technical and administrative preparations ahead of the deadline, to ensure full regional coverage and effective access to services.

The initiative forms part of UEMOA’s broader strategy to modernise its financial infrastructure. It aims to boost financial inclusion by expanding access to payment services for individuals and businesses.

While interoperability in digital payments is expected to support economic activity within the bloc, the announcement also points to a more assertive stance by the BCEAO to accelerate adoption. This reflects reluctance among some operators due to structural and economic constraints.

In the long term, interoperability could help create a unified payments market within UEMOA, reduce costs, improve financial inclusion and strengthen economic integration. Despite growth in electronic payments, the ecosystem remains fragmented across banks, fintechs and mobile operators.

Ayi Renaud Dossavi

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