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To remove transactional barriers between banks, MFIs and mobile money operators, on 30^th September 2025 the Central Bank of West Africa launched a powerful financial integration tool.

The PI-SPI is a prime example of this dynamic promoting electronic payments. People in the WAEMU can send and receive funds instantly between different financial institutions 24 hours a day, 7 days a week, regardless of the channel used.

Among its main advantages, the PI-SPI aims to :

–  Make digital payments more accessible, fluid and secure in the WAEMU.

–  Ensure interoperability between all financial players;

–  Reduce transaction costs by limiting inter-operator fees; and

–  Promote financial inclusion by integrating unbanked populations.

– Facilitate regional trade, particularly within the African Continental Free Trade Area (AfCFTAs), through simplified cross-border payments.

In addition, the adoption of a standardised QR code finally allows merchants to accept payments from all customers, regardless of their provider, thereby strengthening economic integration within the Union.

For treasuries and administrations, PI-SPI will provide a centralised and interoperable channel for the payment of salaries, social benefits and other financial commitments, as well as the collection of public debts. These advantages will also significantly reduce the time and cost of collecting tax revenues and facilitate the monitoring of public expenditure.

All national treasuries in the Union are therefore urged to integrate PI-SPI into their payment and collection chains. In Senegal, the Minister of Finance and Budget has issued directives to ensure that all necessary measures are taken to effectively integrate the public treasury into PI-SPI.

To ensure effective implementation, financial institutions (banks, MFIs and electronic money issuers) must meet the technical and security requirements set by the Central Bank of West Africa. According to a list from the Central Bank updated on 31 July 2025, thirteen (13) banks, three (3) microfinance institutions and three (3) electronic money institutions in Senegal have already met these requirements and are authorised to open PI-SPI services to the public.

These conditions are fundamental, as the platform’s full effectiveness depends on regulatory consistency among WAEMU member states, particularly in terms of cybersecurity, fintech supervision and consumer protection. Uneven transposition or fragmented application could compromise the objective of inclusion and create distortions of competition.