Afrieximbank launches PAPSS Card. Why now and what about AfriGo?
- Afreximbank launched the PAPSS Card on June 27 at the 32nd Afreximbank Annual Meetings in Abuja, Nigeria.
- The PAPSS Card is a joint venture between Afreximbank and Mercury Payment Services, aimed at enhancing financial sovereignty in Africa.
- The card seeks to process transactions within Africa, retaining value and data control, and reducing fees associated with global systems.
The launch of the PAPSS Card is a commendable initiative that could significantly enhance Africa's financial landscape by promoting intra-African trade and reducing dependency on external payment systems. It is crucial to monitor its adoption and impact on local economies to ensure it meets its intended goals of financial autonomy and innovation.
