The payments provider Onafriq has launched a first-of-its-kind cross-border payment service in Ghana through its partnership with the Pan-African Payment and Settlement System (PAPSS) to enhance economic integration across the continent.

The joint pilot program initiated on June 20, 2025, provides seamless outbound transactions as the first major outcome from the 2022 partnership.

Through PAPSS’s existing network, Onafriq enables Ghana’s banks, fintechs, and mobile money operators to provide fast, secure, and economical transfers directly to mobile wallets and bank accounts across the continent.

The initiative supports the broader objective of increasing intra-African trade and financial inclusion through simplified cross-border payment services for businesses and individuals at all scales.

This partnership builds on PAPSS’s centralized platform, a creation of the African Union and Afreximbank, enabling transactions in local currencies, including the Ghanaian cedi—avoiding the tripwire dependence on expensive foreign currencies like the US dollar.1 As per PAPSS, standard correspondent banking arrangements can increase transaction costs by as much as 10% to 30% for one trade worth $200 million.

Local currency systems such as PAPSS can lower these fees to as little as 1%, saving Africa $5 billion per year in hard currency outflows. This efficiency has opened up a world of opportunities to Ghanaian businesses and individuals who can now send money to Kenya, Nigeria, Zambia, or beyond.

For Ghanaians, this service comes at a time when online payments are increasingly becoming the norm. Digital Residents have adopted digital platforms at all levels, from e-commerce and remittances to entertainment platforms like online casinos.

The success of online poker sites, for example, shows how huge the demand is for digital entertainment, where reliable and cost-effective payment methods are key.

The Onafriq-PAPSS partnership makes these transactions cheaper and faster, enabling a Ghanaian user to deposit funds into an account in Nigeria without high fees. This accessibility boosts participation in global digital economies, whether for gaming, supporting businesses, or everyday transfers, strengthening economic ties across Africa.

Onafriq CEO Dare Okoudjou explained that this service provides more than convenience because it unites people while boosting economic ties between Ghana and the region. PAPSS CEO Mike Ogbalu III explained how the partnership enables small and medium enterprises (SMEs) and individuals to benefit from simplified Onafriq CEO Dare Okoudjou explained that this service provides more than convenience because it unites people while boosting economic ties between Ghana and the region. PAPSS CEO Mike Ogbalu III explained how the partnership enables small and medium enterprises (SMEs) and individuals to benefit from simplified cross-border payment processes .

The platform continues to expand its reach because 19 Ghanaian banks have joined the platform, which ranks second only to Nigeria's 22 banks. PAPSS began operations in January 2022 and now serves 150 commercial banks across 15 African nations, which marks a major transformation in African financial transaction methods.

The introduction of this new technology in Ghana creates effects that extend beyond commercial activities. The ability to send instant money transfers between Rwanda and Malawi enables both commercial growth and personal relationship development between families and young entrepreneurs who benefit from the economic connections of a unified Africa.

Onafriq and PAPSS are creating a path to economic and social advancement through direct integration, which will expand their service to mobile money wallets.