IPS Are Proliferating
As of March 2023, 80+ domestic IPS globally and more in development.
On the African continent alone, in 2022 there were more than 40 domestic IPS in place or in development and in various stages of achieving inclusivity. Since 2018, IPS transaction volumes in Africa have experienced a 32% average annual increase.
Source of map content: The State of Instant and Inclusive Payment Systems (SIIPS) in Africa, 2022. https://www.africanenda.org/en/siips2022
We strongly believe in the potential for Africans to power the transformation of the continent. Access to payments systems and transaction accounts via instant payments is the first step for broader financial inclusion and self-empowerment. We recognize the progress to date in launching IPS on the continent and are committed to enabling the journey to full financial inclusion.
Next Topic in this Section: Benefits of Inclusive IPS are Materializing