The Central Bank of West African States (BCEAO) is implementing its interoperable instant payment system PI-SPI across the West African Economic and Monetary Union (UEMOA). Financial institutions are to adopt this instant payment system platform by 30 June 2026. Finacial developments like this will have a positive impact on the iGaming industry.
According to local economic news platform, Togo First report, institutions must connect to the Interoperable Instant Payment System Platform (PI-SPI). This initiative is anticipated to lead to significant changes in transaction flows across several industries, including online betting.
Unifying instant payments network
The platform was launched in September 2025 to modernise digital payments. It allows making transactions between banks, microfinance organisations, and providers of electronic money. Transactions are made in real time, regardless of the issuing organisation, and they can occur anywhere within the territory of the West African Economic and Monetary Union – an organisation consisting of eight member states: the Ivory Coast, Senegal, Benin, Togo, Burkina Faso, Mali, Niger, and Guinea-Bissau. 24/7 transfers from bank accounts and mobile wallets are enabled. This is already a major improvement compared to previous settlements.
Cross-border innovation reshaping Africa
Africa’s digital economy is increasingly tied to efficient cross-border payment systems. According to Kenyan Wall Street, intra-African trade still accounts for only 15% of total trade. This compares to 58% in Asia and 67% in Europe.
Currency fragmentation, high fees, and compliance issues have long impeded transactions. Such obstacles have prevented companies and platforms from scaling regionally. In the betting industry, fragmentation has frequently led to slow settlements and higher transaction costs.
Fintechs bridge the payments gap
Fintech firms are now addressing these inefficiencies with real-time infrastructure and multi-currency solutions. Platforms are building APIs (software connectors between systems), wallets, and payout systems to enable seamless cross-border transactions.
This shift is particularly relevant for mobile-first markets, where domestic systems have outpaced cross-border capabilities. Mobile money platforms transformed local payments but remain siloed across countries. As interoperability improves, industries like online betting stand to benefit from faster, more reliable payment flows across markets.
Faster payments for betting operators
While the directive focuses on improving operations in the financial sector, it is clear that the betting industry stands to benefit from this change. Since online betting requires both mobile money services and bank transfers, these methods often cause delays in deposits and withdrawals. However, the implementation of this platform is expected to address this issue.
For instance, the process of transferring money between operators’ and users’ accounts might significantly speed up in countries such as the Ivory Coast, Senegal, Benin, and Togo. For users, it means quicker funding of their accounts and withdrawal of their winnings. Operators, for their part, will be able to use fast transactions to increase competitiveness, because faster withdrawals are often a key to player loyalty.
Boosting digital finance in WAEMU
This development reflects BCEAO’s ongoing efforts to facilitate and improve inter-banking infrastructure, aimed at creating an efficient, accessible, and reliable system. The betting industry is no exception in the way it increasingly relies on mobile payment services and digital wallets that are used to top up accounts with funds for placing wagers.
Thus, instant payment services further strengthen this ecosystem. As integration deadlines approach, betting operators should hurry to adapt. Those who integrated earlier have a better chance of taking the lead due to improved transaction times.
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