The West African Economic and Monetary Union (UEMOA) has announced that national transfers made through the Interoperable Instant Payment System (PI-SPI) platform will be free up to a daily cumulative amount of 8,000 FCFA per user and per participant, effective November 2, 2026. This move aims to promote financial inclusion and improve the quality of instant payment services within the UEMOA region. The decision was made by the Central Bank of West African States (BCEAO) after a successful first year of operation.
The PI-SPI platform, launched on September 30, 2025, currently has 175 connected participants and provides access to instant payment services for over 38 million people in the UEMOA region. The platform enables users to make instant transactions, and with this new development, users can make multiple transactions without incurring charges, as long as the daily cumulative amount does not exceed 8,000 FCFA. This move is expected to cover 75% of electronic money transactions in the region.
According to the BCEAO, the revision of tariff conditions is aimed at strengthening financial inclusion, expanding free transfers at the regional level, and making PI-SPI a central infrastructure for instant payments in the UEMOA. The central bank estimates that this move will encourage the adoption of instant payments and facilitate money transfers within the region. The new tariff structure will apply to all national transfers, with no limitation on the number of transactions.
For transfers exceeding the daily cumulative amount of 8,000 FCFA, users may be charged fees ranging from 0 to 0.8% of the transaction amount, excluding taxes. However, all transfers, regardless of the amount, will be free for recipients. The BCEAO has emphasized that this new tariff structure will not only benefit individuals but also promote economic growth and financial stability in the region.
In addition to the introduction of free national transfers, the BCEAO has also announced plans to extend the tariff structure to cross-border transfers between UEMOA countries. Effective June 1, 2027, transfers between UEMOA countries will enjoy the same conditions as national transfers, both for senders and recipients. This development is expected to further facilitate trade and economic integration within the region.
The extension of the tariff structure to cross-border transfers will cover transactions between bank accounts, microfinance accounts, and accounts held with electronic money institutions or payment establishments. This move is expected to promote economic integration and cooperation among UEMOA member states. The BCEAO has reaffirmed its commitment to promoting financial inclusion and improving the quality of payment services in the region.
The introduction of free transfers up to 8,000 FCFA and the extension of the tariff structure to cross-border transfers are significant steps towards achieving the BCEAO's objectives of promoting financial inclusion and economic integration in the UEMOA region. The new tariff structure is expected to take effect on November 2, 2026, and June 1, 2027, respectively.
Key points
- UEMOA introduces free national transfers up to 8,000 FCFA from November 2, 2026.
- The new tariff structure aims to promote financial inclusion and improve the quality of instant payment services.
- Cross-border transfers between UEMOA countries will enjoy the same conditions as national transfers from June 1, 2027.
