Interswitch Calls for Unified Payments to Unlock AfCFTA Trade Potential
Unified Digital Payments Key to AfCFTA Success, Interswitch Says
Interswitch Group has called for the development of interoperable payment systems, trusted digital identity frameworks and stronger digital infrastructure to unlock the full trade potential of the African Continental Free Trade Area (AfCFTA). The fintech company said seamless cross-border payments are critical to accelerating intra-African trade, reducing transaction costs and supporting economic integration across the continent.
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The call was made during the 2026 AfCFTA Digital Trade Forum held in Lagos, where policymakers, financial institutions, technology firms and development partners discussed strategies for building Africa's digital trade ecosystem. Interswitch argued that digital public infrastructure will play a decisive role in enabling businesses to trade efficiently across borders under the AfCFTA framework.
Interoperable Payment Systems Key to Regional Trade
Speaking at the forum, Interswitch executives stressed that fragmented payment systems remain one of the biggest barriers to intra-African commerce.
The company advocated interoperable payment rails that enable businesses and consumers to make seamless cross-border transactions regardless of country or financial institution. It also highlighted the need for harmonised digital identity systems and secure data infrastructure to support trusted digital trade across Africa.
According to Interswitch, strengthening these digital foundations would reduce payment friction, improve transaction efficiency and encourage greater participation in regional commerce.
Digital Infrastructure to Support AfCFTA
Interswitch noted that the success of AfCFTA will depend not only on trade agreements but also on the availability of robust digital infrastructure capable of supporting businesses operating across multiple African markets.
The company said investments in payment technology, digital identity systems and data infrastructure would improve financial inclusion, facilitate cross-border business transactions and create new opportunities for African enterprises.
It also emphasised the importance of collaboration between governments, regulators, financial institutions and technology companies in developing a secure and efficient digital trade ecosystem.
Nigeria Positioned as a Regional Digital Payments Hub
The discussions align with Nigeria's broader ambition to strengthen its position as one of Africa's leading fintech and digital payments markets.
Recent engagements between the Federal Ministry of Finance and Interswitch have focused on improving cross-border payment solutions, reducing remittance costs and promoting local currency settlements to support regional trade under AfCFTA.
Industry stakeholders believe improved payment infrastructure could enhance the competitiveness of Nigerian businesses while expanding market access across the continent.
Implications for Business and Investment
For businesses, efficient cross-border payment systems could significantly reduce transaction costs, shorten settlement times and simplify regional trade.
Improved digital payment infrastructure would also benefit sectors such as manufacturing, logistics, real estate, financial services and e-commerce by making it easier for businesses to operate across African markets.
As AfCFTA implementation gathers pace, experts believe digital financial infrastructure will become increasingly important in supporting investment, trade expansion and broader economic growth.
Outlook
Interswitch's recommendations reinforce the growing consensus that digital public infrastructure is essential to realising the full benefits of the African Continental Free Trade Area. Expanding interoperable payment systems, strengthening digital identity frameworks and improving regional collaboration could accelerate cross-border trade while positioning African businesses to compete more effectively in an integrated continental market.
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