{"id":748440,"date":"2022-01-13T20:43:34","date_gmt":"2022-01-13T20:43:34","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/01\/13\/vice-president-to-launch-pan-african-payment-and-settlement-system\/"},"modified":"2022-01-13T20:43:34","modified_gmt":"2022-01-13T20:43:34","slug":"vice-president-to-launch-pan-african-payment-and-settlement-system","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/01\/13\/vice-president-to-launch-pan-african-payment-and-settlement-system\/","title":{"rendered":"Vice President to launch Pan-African Payment and Settlement System"},"content":{"rendered":"

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\n Accra, Jan.13, GNA – All is set for Vice President Mahamudu Bawumia to launch the Pan-African Payment and Settlement System (PAPSS) in Accra on Thursday.<\/p>\n
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PAPSS is a cross-border financial market infrastructure instantly connecting payment transactions across Africa. <\/p>\n

It is designed to enable leading-edge technology African banks, payment service providers and other financial market infrastructure to make instant and secure payments between African countries. <\/p>\n

The system was designed and facilitated by AFREXIHBANK, African Union and the African Continental Free Trade Area (AfCFTA) Secretariat. <\/p>\n

It allows for instant payments by both originators and recipients to transfer and receive cash in their local currencies anywhere in Africa. <\/p>\n

It thus simplifies the historical complexities and costs of making payments across Africa’s borders and provide operational efficiencies, which open up vast economic opportunities for economies. <\/p>\n

PAPSS is expected to benefit all stakeholders from governments, banks and payment providers to the end customers, corporates, small enterprises and individuals. <\/p>\n

The speed, simplicity and security of the process greatly improves the capabilities of the participants, increasing access to new African markets with less costly foreign exchange complications. <\/p>\n

Governments and central banks will see less pressure on foreign exchange liquidity and greater transparency of cross-border transactions, increasing potential to generate revenue, as well as ease customers’ burden and enhance trade opportunities. <\/p>\n

GNA<\/p>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"

Accra, Jan.13, GNA – All is set for Vice President Mahamudu Bawumia to launch the Pan-African Payment and Settlement System (PAPSS) in Accra on Thursday. PAPSS is a cross-border financial market infrastructure instantly connecting payment transactions across Africa. It is designed to enable leading-edge technology African banks, payment service providers and other financial market infrastructure […]<\/p>\n","protected":false},"author":1,"featured_media":748441,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[1598,1599,1600,275,1601,1493,1602],"class_list":["post-748440","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-launch","tag-panafrican","tag-payment","tag-president","tag-settlement","tag-system","tag-vice"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/748440","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=748440"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/748440\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=748440"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=748440"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=748440"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}