Africa’s Digital Payment Strategies are Shifting: What it Means for Businesses
Africa’s digital payments landscape is evolving and behind this change are both regional and national strategies shaping the way businesses and consumers transact. Two recent developments stand out: the East African Community’s adoption of a Cross-Border Payment System Masterplan and Nigeria’s release of its 2025 National Payments Scorecard. Together, these moves reflect a continental shift that prioritizes financial inclusion, regulatory clarity, and payment innovation.
Regional integration driving inclusion
The East African Community (EAC) masterplan is a bold step towards creating a frictionless regional payment ecosystem. By harmonising systems across borders, the bloc aims to reduce the cost of trade, increase financial access, and enable businesses to scale beyond national boundaries.
At its core, the Masterplan is anchored on four strategic pillars. The first is policy and regulatory harmonization which is aimed at strengthening compliance, reducing risks, and promoting interoperability among payment service providers. The second is infrastructure development and modernisation to deliver faster, more cost-effective transactions through upgrades such as the East African Payment System (EAPS) and a regional instant retail payment switching mechanism. The financial market deepening pillar aims to ensure that individuals, businesses, and financial institutions across the Partner States have equitable access to cross-border systems, while the capacity building pillar aims to grow technical expertise, regulatory capabilities, and financial literacy that will sustain modernised payment systems. For Small and Medium-sized Enterprises (SMEs), this integrated approach could translate into faster payments, reduced reliance on cash, and greater participation in regional supply chains.
Initiatives like this align with Network’s commitment to providing seamless, cross-border payments. As we serve our customers across Africa, we have seen firsthand how the ability to accept and process payments in multiple currencies and across channels like mobile money, cards, and digital wallets empowers businesses to grow regionally and tap into new customer bases.
National strategies fueling innovation
On the other end of the spectrum, Nigeria’s National Payments Scorecard offers a granular look at how Africa’s largest economy is shaping its digital finance ecosystem. The report highlights regulatory frameworks that are strengthening trust and encouraging innovation. It also shows how government and private players are building the infrastructure needed for businesses and consumers to transact securely and efficiently.
This national focus complements regional ambitions, proving that progress at both levels is essential for Africa’s payments future. With strong national systems, businesses can build resilience and trust. With regional interoperability, they can scale.
What this means for businesses
For African businesses, the convergence of regional blueprints and national scorecards presents enormous opportunity. It means that they can access wider markets, where regional payment systems make it easier for SMEs to expand beyond borders.
For customers, it presents a future of possibilities. It means that they can have greater choice through multiple payment options and enjoy improved convenience and customer experience. It also means that in the future, the groundwork to enable innovation will already have been done to allow actual implementation.
At Network, we believe that these developments are not just policy advancements. They are business enablers. As payment service providers, our role is to translate these frameworks into practical, everyday tools that help merchants grow, whether they are local start-ups or pan-African enterprises.
As Africa advances from inclusion to innovation, businesses that embrace digital payments will be best positioned to thrive. By bridging policy ambition with real-world solutions, payment providers will continue to play a pivotal role in ensuring that the continent’s payment future is not only seamless but also sustainable.
