Africa: IPS transaction volume by system 2022

Based on a survey, mobile money IPS contributed the most to the total instant payment system (IPS) in Africa to transfer funds. In 2022, nearly 26 billion mobile money IPS transactions were registered across the continent. Cross-domain IPS counted five billion. The latter provides access for banks and non-banks and supports transactions made from both bank and mobile money accounts.

Instant payment systems are used across the different African regions.

Volume of instant payment transactions (IPS) in Africa as of 2022, by system (in millions)

Characteristic	Transaction volume in millions
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Release date

November 2023

More information

Region

Africa

Survey time period

2022

Number of respondents

22 instant payment systems

Special properties

retail; instant payment systems (IPS)

Supplementary notes

The source defines Instant Payment Systems (IPS) as that which allow digital push payments through set procedures, making final funds available to the payee in the nearest real-time.

The source reports, that there is missing data from 10 IPS around Africa. Therefore, the volume could be underestimated.

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