The Central Bank of West African States (BCEAO) on Monday launched the pilot phase of the interoperable instant payment system of the West African Economic and Monetary Union (UEMOA).

The launch this week is an important step, before services open to the public soon. Twenty-five (25) financial institutions met the requirements to participate in the pilot phase. This pilot phase will allow the BCEAO to test the interoperable system and for participants to ensure that their systems work in accordance with the defined specifications. The new interoperable instant payment infrastructure, operational continuously, 24 hours a day, 7 days a week, is capable of processing transactions of any kind, regardless of the type of account