Fidelity Bank PAPSS Helps Nigerian Businesses Trade Seamlessly Across Africa

For Nigerian businesses looking to expand beyond the country, cross-border payments can be a major challenge. Traditional payment channels may involve foreign currency requirements, multiple conversions, intermediary banks, higher costs and longer processing times.
The Pan-African Payment and Settlement System (PAPSS) is helping to address these challenges by enabling eligible transactions between participating African countries. Through PAPSS, Nigerian customers can initiate eligible payments in Naira, while beneficiaries receive the equivalent value in their applicable local currency.
Through Fidelity Bank Plc, eligible PAPSS transfers can be completed in as little as 120 seconds, subject to applicable requirements and the receiving market. The service can support payments to eligible suppliers, distributors, service providers and other commercial partners across supported African corridors.
Fidelity Bank onboarded PAPSS in September 2024 and recorded more than ₦46 billion in transactions during its early adoption phase before the system’s official launch in August 2025.
Customers can access eligible PAPSS transactions through the Fidelity Mobile App, Fidelity Online Banking or Fidelity Bank branches, with Relationship Managers available to provide guidance on documentation and requirements.
With PAPSS, Nigerian businesses can reduce the complications associated with sourcing foreign currency for eligible African transactions while improving payment speed, cash-flow management and regional business relationships.
As intra-African trade continues to grow, PAPSS is providing businesses with a more connected way to move money across the continent.
Africa is closer with PAPSS at Fidelity Bank.