FirstBank has integrated PAPSS into LIT App, enabling instant cross-border payments across Africa.
NewsOnline Nigeria reports that 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 award-winning digital banking platform, the LIT App. This milestone allows customers to make instant, secure, and local currency-based cross-border payments across Africa.
PAPSS, an initiative of the African Export-Import Bank (Afreximbank) in partnership with the African Union (AU) and the AfCFTA Secretariat, facilitates real-time, low-cost transactions in local currencies between African nations, eliminating the need for foreign currency conversions.
Speaking on the integration, Chuma Ezirim, Group Executive, e-Business and Retail Products at FirstBank, said:
“The integration of PAPSS into the LIT app underscores FirstBank’s dedication to delivering customer-focused innovations that simplify financial transactions. It aligns perfectly with our strategy to deepen digital capabilities and expand access to seamless cross-border payment services across the continent.”
In his remarks, Mike Ogbalu, CEO of PAPSS, commended the partnership, stating:
“Every time an individual, SME, or company sends money instantly within Africa in their own currency, we are not just moving funds — we are connecting ambitions and bridging dreams. Our collaboration with FirstBank through the LIT App is another step toward removing payment barriers and empowering Africans to build their future.”
The LIT App, FirstBank’s cutting-edge digital platform offers features such as virtual cards, scheduled payments, and bulk transfers, tailored to meet the evolving needs of modern users. With the addition of PAPSS, customers can now send and receive funds in Naira and other local currencies across Africa, without the need for USD, GBP, or EUR conversions.
This breakthrough enhances cross-border trade, supports SME growth, and promotes financial inclusion under the African Continental Free Trade Area (AfCFTA) framework. By reducing transaction costs and improving settlement efficiency, FirstBank is reinforcing its leadership in digital innovation and its commitment to simplifying intra-African transactions.
Through this integration, FirstBank continues to strengthen its role in driving Africa’s digital transformation—breaking barriers, empowering customers, and connecting the continent financially.
