In 2026, KCB became the first bank in Kenya and East Africa to integrate with PAPSS (Pan-African Payment and Settlement System), allowing customers to make fast and affordable cross-border payments in local currencies. This innovative integration helps reduce reliance on foreign currencies like USD or EUR, enabling smoother and more efficient transactions between African countries.
PAPSS provides a centralized financial system that facilitates real-time intra-African payments, streamlining cross-border transactions for individuals and businesses alike. Here’s how you can use PAPSS with KCB to make payments across Africa and benefit from faster, cheaper, and secure transfers.
What is PAPSS?
PAPSS is a payment system developed by Afreximbank (African Export-Import Bank) to facilitate seamless cross-border transactions across Africa. It’s designed to promote financial integration within the continent by enabling transactions in local currencies rather than relying on foreign exchange.
The system processes transactions in real time, reducing delays and simplifying payments for goods and services, as well as remittances, between African countries. This integration also supports the growth of regional trade and strengthens Africa’s financial infrastructure.
How to Use PAPSS with KCB
You can access PAPSS services through KCB in two ways:
1. Using KCB Branches
To use PAPSS at a KCB branch, follow these steps:
- Visit any KCB branch near you.
- Fill out a transaction form with the required details.
- Provide your identification and any necessary documents, which may vary based on the transaction amount and type.
- A KCB representative will assist you in completing the transaction through the PAPSS platform.
2. Using the KCB Mobile Banking App
You can also perform PAPSS transactions using the KCB Mobile Banking App. Here’s how:
- Log into the KCB Mobile Banking App.
- Navigate to the ‘Global Transfers’ section.
- Select the PAPSS option from the available services.
- Enter the necessary details (like recipient information and transaction amount).
- Confirm the transaction and wait for processing.
Transactions via the KCB Mobile App are processed instantly, making it a convenient option for users who prefer digital banking.
Benefits of Using PAPSS with KCB
Using PAPSS with KCB offers a number of advantages:
- Faster Transactions: Payments are processed in real-time, meaning that there are no long delays, unlike traditional cross-border payments that can take days.
- Local Currency Payments: You can send and receive payments directly in local currencies, removing the need to convert currencies such as USD or EUR, which can be costly.
- Cost-Effective Transfers: The system offers competitive foreign exchange rates, making transactions more affordable than traditional methods.
- Secure Transactions: PAPSS ensures safe and secure payments, protecting your funds and providing peace of mind.
- No Sign-Up Required: If you’re a KCB customer, you don’t need to register separately to access PAPSS services. Simply log in to your KCB account via the mobile app or visit a branch to get started.
KCB’s Commitment to Enhancing Cross-Border Trade
By integrating with PAPSS, KCB is reinforcing its commitment to fostering economic growth and enhancing cross-border trade in Africa. This partnership aligns with the bank’s mission to create seamless and efficient financial systems that improve the ease of doing business across the continent.
KCB’s integration with PAPSS is a significant step towards financial inclusion in East Africa and beyond, providing businesses and individuals with a convenient, secure, and affordable method to conduct cross-border transactions.
Conclusion
KCB’s integration with PAPSS makes it easier for individuals and businesses to conduct fast, affordable, and secure cross-border payments across Africa. By allowing transactions in local currencies and reducing reliance on foreign exchange, PAPSS supports financial integration and strengthens Africa’s economic ties.
Whether you choose to use KCB branches or the KCB Mobile Banking App, accessing PAPSS is simple and convenient. If you’re looking to expand your business across borders or send money to family members in another country, PAPSS with KCB is a great solution to streamline your payments.
