Money transfers: How PI-SPI is shaking up Wave, Orange Money and Mixx

In Senegal, PI-SPI, an instant payment platform deployed across the WAEMU region, now enables direct transfers between banks, mobile money services and microfinance institutions. Economist Souleymane Astou Diagne of Alioune Diop University in Bambey says the system ends the separation between payment networks and could make payments faster, simpler and easier to track. Questions remain about the 8,000 CFA franc threshold for cumulative daily transactions and possible changes to fees, while Wave, Orange Money, Mixx by Yas and some fintech firms may need to adapt their practices. The platform’s reliability, particularly its exposure to outages and cyberattacks, remains a concern.