FirstBank Integrates PAPSS into LIT App to Power Instant Cross-Border Payments Across Africa

FirstBank Integrates PAPSS into LIT App to Power Instant Cross-Border Payments Across Africa

FirstBank, West Africa’s premier financial institution and a leading driver of financial inclusion, has announced the integration of the Pan-African Payment and Settlement System (PAPSS) into its flagship digital banking platform, the LIT App, to enable seamless, instant, and secure cross-border payments across Africa using local currencies.

The announcement was made on Tuesday, October 22, 2025, in Lagos. The integration marks a major milestone in FirstBank’s ongoing digital transformation journey and its commitment to advancing financial connectivity and inclusion across the continent.

Developed by the African Export-Import Bank (Afreximbank) in collaboration with the African Union (AU) and the African Continental Free Trade Area (AfCFTA) Secretariat, PAPSS facilitates instant and low-cost payments between African countries, allowing transactions to be settled in local currencies without dependence on third-party foreign exchange conversions.

Speaking on the development, Chuma Ezirim, Group Executive, e-Business and Retail Products at FirstBank, said the integration demonstrates the Bank’s dedication to driving innovation and enhancing customer experience.

“The integration of PAPSS into the LIT App is a testament to FirstBank’s commitment to delivering innovative, customer-centric solutions that simplify and enhance financial transactions. This milestone aligns with our strategic goal of deepening digital capabilities and expanding access to seamless cross-border payment services across Africa,” Ezirim stated.

Also commenting, Mike Ogbalu, CEO of PAPSS, described the partnership as a critical step in advancing the vision of a financially integrated Africa.

“Every time an individual, an SME, or a company sends money instantly within Africa in their own currency, we are not just moving funds — we are connecting ambitions, supporting livelihoods, and bridging dreams across borders. This collaboration with FirstBank and the LIT App brings us closer to making African borders invisible to the movement of money,” Ogbalu said.

The LIT App, FirstBank’s award-winning digital banking platform, is designed to meet the evolving financial needs of customers, offering features such as virtual cards, scheduled payments, and multiple transfers at once. With the inclusion of PAPSS, users can now send funds directly to other African countries in Naira or other local currencies, eliminating the need for USD, GBP, or Euro conversions.

The integration is expected to significantly boost intra-African trade by improving settlement efficiency, reducing transaction costs, and promoting financial inclusion—particularly for small and medium enterprises (SMEs) engaged in pan-African commerce.

This milestone further underscores FirstBank’s leadership in digital innovation and its alignment with the AfCFTA’s goal of creating a unified African market. By integrating PAPSS into the LIT App, the Bank is empowering businesses and individuals to transact freely across the continent, reinforcing its role as a key enabler of Africa’s economic growth.