In 2022, nearly 1.2 trillion U.S. dollars were transferred via instant payment systems on the African continent. This was an increase from 861 billion U.S. dollars in the previous year. Between 2018 and 2022, a significant increase in the volume of transactions occurred, corresponding to an increase in value as well. According to the source, instant payments refer to transactions across domains and through banks, mobile money, and sovereign currency.
Value of instant payment transactions in Africa from 2018 to 2022
(in billion U.S. dollars)
The source defines Instant Payment Systems (IPS) as that which allow digital push payments through set procedures, making final funds available to the payee in the nearest real-time.
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AfricaNenda Foundation. (November 5, 2023). Value of instant payment transactions in Africa from 2018 to 2022 (in billion U.S. dollars) [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1461810/annual-value-of-instant-payment-transactions-in-africa/
AfricaNenda Foundation. "Value of instant payment transactions in Africa from 2018 to 2022 (in billion U.S. dollars)." Chart. November 5, 2023. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1461810/annual-value-of-instant-payment-transactions-in-africa/
AfricaNenda Foundation. (2023). Value of instant payment transactions in Africa from 2018 to 2022 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1461810/annual-value-of-instant-payment-transactions-in-africa/
AfricaNenda Foundation. "Value of Instant Payment Transactions in Africa from 2018 to 2022 (in Billion U.S. Dollars)." Statista, Statista Inc., 5 Nov 2023, https://www.statista.com/statistics/1461810/annual-value-of-instant-payment-transactions-in-africa/
AfricaNenda Foundation, Value of instant payment transactions in Africa from 2018 to 2022 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1461810/annual-value-of-instant-payment-transactions-in-africa/ (last visited November 21, 2024)
Value of instant payment transactions in Africa from 2018 to 2022 (in billion U.S. dollars) [Graph], AfricaNenda Foundation, November 5, 2023. [Online]. Available: https://www.statista.com/statistics/1461810/annual-value-of-instant-payment-transactions-in-africa/
