West Africa: Bceao Extends Deadline for Waemu Instant Payment Platform

The Central Bank of West African States extended the deadline for banks, electronic money issuers, payment institutions and some microfinance institutions to connect to WAEMU's instant payment platform.

The platform, known as PI-SPI, was launched by the BCEAO on September 30, 2025. It is designed to support instant, accessible and secure payments across the West African Economic and Monetary Union.

As of June 24, 2026, 80 participants had connected to the platform, giving several million people access to PI-SPI services. Another 74 institutions were in live testing before opening services to the public.

The BCEAO said the extension will allow institutions to complete integration under better conditions and ensure service quality meets platform requirements. Banks, electronic money institutions and payment institutions now have until September 30, 2026 to launch PI-SPI services.

Microfinance institutions supervised by the WAEMU Banking Commission have until June 30, 2027. The central bank said its teams will continue to support participants as they complete their technical integration.

Key Takeaways

The deadline extension shows that WAEMU's instant payment reform is progressing, but integration is taking time. PI-SPI is important because it can make payments faster, cheaper and more interoperable across the region. For consumers and businesses, that means money can move more easily between banks, mobile wallets, payment institutions and eventually microfinance networks. The fact that 80 participants are already connected and 74 more are in testing suggests broad industry adoption. But payment infrastructure must be reliable before it scales. Poor integration could create failed transactions, weak user trust and operational risk. That is why the BCEAO is giving institutions more time rather than forcing a rushed rollout. The longer deadline for microfinance institutions also matters because they often serve lower-income users and smaller businesses, making their inclusion important for financial access. If PI-SPI is implemented well, it could become a core layer for digital payments, merchant transactions, transfers and financial inclusion across WAEMU.

Read the original article on Daba Finance.