WAEMU: Interfaces for electronic payment regional centres planned for 2014

Jun 19, 2013

Interfaces for regional electronic payment centres should go live in 2014 in West Africa, according to the president of the Electronic Money Inter-bank Group of UEMOA (GIM-UEMOA).

Interfaces for regional electronic payment centres should go live in 2014 in West Africa, according to the president of the Electronic Money Inter-bank Group of UEMOA (GIM-UEMOA).

"The initiative to set up a platform for cross-border payments in West Africa is needed - in a context of globalisation of the economy - to allow our markets to take advantage of economic instruments for social development," said Blaise Ahouantché
on
Saturday in Dakar.

"We are aware that payment systems facilitate trade," he added, quoted by news agency APS.

The announcement comes just weeks after the launch of the prepaid card
GIM-Prepaid
in all eight countries of the West African Economic and Monetary Union (UEMOA), which allows the holder to
carry out top ups, transfers from card to card, withdrawals, cash advance, purchases and payments.

The GIM-UEMOA is an interbank electronic payment system with a technical and operational infrastructure built to international standards, which helps cover withdrawal and credit card payment needs both in the UEMOA zone and internationally.

This economic integration tool works through a platform that allows financial institutions to interconnect and cardholders to make payments and withdrawals at ATMs.ADNFCR-2976-ID-801601048-ADNFCR