African News Business and Economy

Seven Togolese Banks Join Regional Instant Payment System

By Ajuma N / August 5, 2025

Seven Togolese banks have joined the UEMOA Instant Payment System (PI-SPI). These include Ecobank, Orabank, BOA, COFINA, BIAT, CORIS Bank, and Banque Atlantique.

The system enables 24/7 real-time transfers across banks, microfinance, and mobile money. It aims to lower transaction costs and ensure smooth interoperability between platforms. Ecobank and Orabank took part in earlier system tests in Togo. Live customer testing began on June 5 to check security and performance.

The platform is set for official launch on September 30, 2025. It is expected to boost financial inclusion and transform regional payments.

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