The West African Economic and Monetary Union (UEMOA) has introduced the Interoperable Instant Payment System (PI-SPI) to transform the way people make payments in the region. The platform, launched by the Central Bank of West African States (BCEAO) on September 30, 2025, enables instant transactions between different banks, electronic money operators, and financial institutions. This development is expected to boost economic integration and financial inclusion in the region.
PI-SPI is not a mobile application, but rather an infrastructure that allows different systems to communicate and function together. Users can continue to use their existing mobile banking apps, such as Orange Money, Wave, and Mixx by Yas, to make transactions. The platform's innovation lies in its interoperability, enabling users to send and receive money between different banks, electronic money operators, and financial institutions seamlessly.
The BCEAO has been working with financial institutions in the UEMOA region to connect them to the PI-SPI platform. The goal is to ensure that all participants can conduct transactions with each other, regardless of the network they use. The platform's testing phase began in 2025, and all financial institutions in the region were expected to be connected by a fixed deadline.
A new regulatory framework has been put in place to support the growth of PI-SPI. The BCEAO issued a directive on October 2, 2026, outlining the rules for electronic money transactions between individuals using the PI-SPI platform. The directive makes it mandatory for all interoperable electronic money transactions within the UEMOA region to be conducted through PI-SPI.
The tarification structure for PI-SPI has been designed to favor small transactions. Transfers between individuals with a daily cumulative amount of 8,000 FCFA or less are free. For transactions above this threshold, fees are capped at 0.8% of the transfer amount, excluding taxes. The recipient of the funds does not incur any charges.
Using PI-SPI is straightforward and does not require any special registration or software download. Users can send and receive money, make payments to merchants using QR codes, and conduct transactions between different operators. For example, a customer of Orange Money can now transfer funds to a user of a different network participating in PI-SPI without any technical constraints.
The introduction of PI-SPI marks a significant milestone in the development of instant payment systems in West Africa. The platform has the potential to increase financial inclusion, reduce transaction costs, and promote economic integration in the region. As the UEMOA region continues to grow and develop, PI-SPI is expected to play a critical role in facilitating cross-border transactions and promoting economic cooperation among member states.
Key points
- The PI-SPI platform enables instant transactions between different banks, electronic money operators, and financial institutions in the UEMOA region.
