Breaking Borders: Access Bank Launches Zero-Fee PAPSS Campaign for Instant African Transfers

 

​In a massive move to simplify cross-border commerce, Access Bank Plc has officially launched its Zero-Fee Outbound Campaign. This initiative is designed to accelerate the adoption of the Pan-African Payment and Settlement System (PAPSS), a centralized financial infrastructure that allows Africans to send and receive money across the continent in their own local currencies.

​The campaign, which runs from February 1 to April 30, 2026, represents a significant step toward financial integration in Africa. By removing the traditional cost barriers associated with international transfers, Access Bank is positioning itself as a leader in the implementation of the African Continental Free Trade Area (AfCFTA) goals.

​The Campaign: Sending Naira, Receiving Local Currency

​The core of the Zero-Fee Outbound Campaign is simple: individuals and businesses in Nigeria can now send money in Naira to other African countries, while the recipients receive the funds in their respective local currencies—all without any outbound transfer charges.

​Traditionally, sending money between African nations required converting local currency into a "third-party" currency like the US Dollar or Euro before converting it back into the destination's local currency. This process often resulted in high fees, slow settlement times, and a heavy reliance on foreign exchange liquidity. Through the integration of PAPSS into the AccessAfrica platform, Access Bank is effectively bypassing these hurdles.

​Why PAPSS Matters for African Trade

​Developed by Afreximbank in collaboration with the African Union, PAPSS is more than just a payment tool; it is a sovereign African payment ecosystem. Its primary objective is to reduce the continent's dependency on foreign currencies for intra-African trade, which currently costs Africa billions of dollars in transaction fees annually.

​Key Benefits of the Access Bank PAPSS Integration:

• ​Zero Outbound Fees: During the campaign period, customers enjoy a complete waiver on outbound transfer costs for eligible PAPSS transactions.
• ​Instant Settlement: Transfers are processed in real-time or near real-time, often reaching the beneficiary in under 120 seconds.
• ​Local Currency Empowerment: By allowing payments in Naira and receipts in local African currencies (like the Cedi, Shilling, or Kwacha), the system supports the strength of regional currencies.
• ​Inclusivity: The service is available to individuals for remittances and school fees, as well as to SMEs and large corporates for trade and invoice payments.

​Bridging the Gap in Intra-African Payments

​Speaking on the launch, Aminat Olatunji, Unit Head of Remittances at Access Bank, emphasized that the campaign is focused on removing both the cost and the complexity that have historically plagued African payments.

​"We want customers to see that sending money across Africa doesn't have to be expensive or complicated," Olatunji stated. "With this campaign, you send in Naira, your beneficiary receives in their local currency, and there's no outbound cost. It’s that simple."

​The bank is utilizing its extensive footprint—spanning over a dozen African markets—to ensure that this "financial rail" reaches the millions of people who need it most. Whether it’s a trader in Lagos buying goods from Accra or a parent in Abuja paying school fees in Nairobi, the PAPSS module on the AccessMore app makes the process seamless.

​How to Access the Zero-Fee Offer

​Access Bank customers can take advantage of this promotion through multiple channels:

1. ​AccessMore Mobile App: The PAPSS feature is integrated directly into the app for 24/7 access.
2. ​In-Branch Education: Customers can visit any Access Bank branch to speak with staff trained to facilitate PAPSS transactions.
3. ​Internet Banking: The platform is also available for corporate entities requiring larger-scale transfers.

​Conclusion: A Connected African Economy

​As the Zero-Fee Outbound Campaign gains momentum, it serves as a powerful reminder of the potential of an interconnected Africa. By eliminating the friction of cross-border payments, Access Bank is not just facilitating money transfers; it is fueling the engines of trade, entrepreneurship, and regional prosperity. For the next few months, the "cost of distance" in African banking has effectively been reduced to zero.