Volume of instant payment system (IPS) transactions in Africa 2018-2022
According to a survey, over 31 billion instant payment system (IPS) transactions were carried out in Africa in 2022. This continued the steady yearly increase in transaction volume visible since 2018. That year, only seven billion transactions were registered on the continent.
Overall, instant payment systems (IPS) are used across the different regions of Africa. According to the source, they refer to transactions across domains and through banks, mobile money, and sovereign currency.