The Cadre permanent de concertation des prestataires de transfert d’argent du Sénégal (CPCP) has called on the Banque centrale des États de l’Afrique de l’Ouest (BCEAO) to establish a dialogue framework around the deployment of the Plateforme interopérable du système de paiement instantané (PI-SPI). In a statement released on November 8, 2026, the providers welcomed the innovation but expressed concerns over its implementation conditions. They believe the platform's launch is a significant step forward in modernizing payment systems within the UEMOA region.
The CPCP views the PI-SPI as an opportunity to enhance financial inclusion, accelerate digitalization of services, and facilitate transactions for populations and economic actors. However, the money transfer providers reported operational difficulties, malfunctions, and a lack of communication and support. They feel they were not adequately involved in preparing and deploying this reform, despite being essential local actors in distributing digital financial services.
The CPCP is requesting that BCEAO convene a meeting with monetary authorities, financial institutions, payment operators, money transfer providers, and other concerned actors. This concertation aims to assess PI-SPI implementation conditions, identify difficulties encountered, clarify stakeholders' responsibilities, and define suitable support mechanisms. The CPCP's approach does not challenge BCEAO's ambitions but rather seeks to improve and ensure the reform's success.
The money transfer providers emphasized that their initiative preserves the achievements of the money transfer ecosystem and aims to make PI-SPI a genuine lever for financial inclusion in the UEMOA region. The CPCP's statement was released on November 9, 2026, through Senegal's national television, RTS 1. This development highlights the importance of stakeholder engagement in implementing new financial technologies.
The introduction of PI-SPI represents a significant advancement in modernizing payment systems within the UEMOA region. By facilitating instant payments, the platform is expected to increase the efficiency and speed of financial transactions. However, its success depends on effective collaboration among stakeholders, including money transfer providers, financial institutions, and regulatory bodies.
The BCEAO's PI-SPI platform has the potential to strengthen financial inclusion and digitalization in West Africa. Its implementation is closely watched by stakeholders in the region, who recognize the need for efficient and secure payment systems. The outcome of the proposed concertation between BCEAO and money transfer providers will likely influence the platform's future development and adoption.
The request for dialogue by Senegal's money transfer providers underscores the importance of stakeholder engagement in implementing new financial technologies. Effective communication and collaboration among stakeholders are crucial for overcoming operational challenges and ensuring the success of initiatives like PI-SPI. The situation will continue to be monitored as BCEAO and the providers work towards a resolution.
Key points
- Money transfer providers in Senegal request dialogue with BCEAO over PI-SPI implementation concerns.
