FirstBank Integrates PAPSS into LIT App to Boost Seamless Cross-Border Payments in Africa

First Bank of Nigeria Limited  has taken a major step in advancing financial connectivity across the continent with the integration of the Pan-African Payment and Settlement System (PAPSS) into its digital banking platform, the LIT app. The move marks a significant milestone in simplifying cross-border transactions and promoting financial inclusion across Africa.

The new feature enables FirstBank customers to send and receive payments instantly and securely in local African currencies, removing the need for foreign currency conversions. This innovation reflects the bank’s continued leadership in digital transformation and its commitment to supporting seamless intra-African trade.

Developed by the African Export-Import Bank (Afreximbank) in partnership with the African Union (AU) and the African Continental Free Trade Area (AfCFTA) Secretariat, PAPSS serves as a continental financial infrastructure that allows real-time, low-cost settlements between African countries, creating a more connected and efficient payment ecosystem.

Commenting on the milestone, Chuma Ezirim, Group Executive, e-Business and Retail Products at FirstBank, said the integration demonstrates the bank’s mission to deliver innovative, customer-focused digital solutions. He added that it aligns with FirstBank’s broader strategy to expand access to reliable and convenient cross-border financial services across the region.

Mike Ogbalu III, Chief Executive Officer of PAPSS, described the collaboration as a crucial step toward breaking down barriers to intra-African payments. He noted that by connecting the LIT app to PAPSS, individuals, small businesses, and corporations can now trade and transact freely across African borders in their local currencies, fostering growth and opportunity across the continent.

The LIT app, FirstBank’s flagship digital platform, already provides customers with tools such as virtual cards, bulk transfers, and scheduled payments. With the addition of PAPSS integration, users can now perform instant cross-border transactions, a feature expected to benefit entrepreneurs, SMEs, and customers involved in regional commerce.

Through this integration, FirstBank has further solidified its position as a leader in Africa’s digital banking landscape, driving innovation that enhances financial inclusion, trade facilitation, and economic collaboration. The bank noted that the development directly supports the vision of the AfCFTA, which aims to strengthen Africa’s economic integration through efficient, borderless trade.