WAEMU Opens Instant Payment System to Business Software With 24 Approved APIs

The West African central bank group WAEMU has opened its instant payments platform to business software through 24 approved Business APIs. The BCEAO said that, as of September 16, companies can connect their accounting, billing, treasury and related systems directly to the WAEMU Instant and Interoperable Payment System (PI-SPI). Previously, PI-SPI focused on links among payment service providers such as banks, microfinance institutions and payment institutions. With the new Business APIs, businesses can automate payments, submit bulk requests, and monitor transactions in real time using payment data for reconciliation. The 24 APIs span seven WAEMU countries, led by Senegal and Côte d’Ivoire.