Fidelity Bank PAPSS Opens New Trade Opportunities for Nigerian Businesses Across Africa

Fidelity Bank PAPSS Opens New Trade Opportunities for Nigerian Businesses Across Africa

Fidelity Bank’s adoption of the Pan-African Payment and Settlement System (PAPSS) is making it easier for Nigerian businesses to pay eligible suppliers and partners across participating African markets.

Through PAPSS, businesses can initiate eligible cross-border payments in Naira, while beneficiaries receive the equivalent value in their local currency. This can reduce reliance on foreign currencies, multiple conversions and traditional correspondent banking channels.

For Nigerian manufacturers, retailers, exporters, technology companies and SMEs, the system can support faster settlement, better cash-flow management and stronger business relationships across Africa.

Through Fidelity Bank, eligible PAPSS transactions can be initiated via the Fidelity Mobile App, Fidelity Online Banking or at a branch, giving customers both digital convenience and access to relationship managers for transaction guidance.

Fidelity Bank onboarded PAPSS in 2024 and has continued expanding access through its digital and branch channels. The payment system is designed to strengthen intra-African trade by making cross-border transactions more efficient and accessible.

As businesses increasingly look beyond Nigeria for suppliers, customers and investment opportunities, convenient payment infrastructure is becoming essential to regional expansion.

With Fidelity Bank PAPSS, Africa is closer for Nigerian businesses.