Many of the AFI member countries are leveraging instant payment systems to accelerate digital financial inclusion in their jurisdictions, and the current landscape for instant payment systems (IPS) reflects a global trend towards enhancing the efficiency and accessibility of digital payment infrastructure. Central banks worldwide have recognized the transformative potential of IPS in promoting financial inclusion and driving economic growth. Inclusive instant payment systems enable individuals to utilize payment systems operated by financial service providers for swift, affordable transactions, accessible to anyone, anytime. Moreover, they act as a driver for enhancing financial inclusion by expediting access to digital payment solutions and the formal economy for individuals with lower incomes (UNECA, 2022).

The terminal objective is to learn from member countries on implementing instant payment systems to advance financial inclusion. Specific objectives are:

• To learn about instant payment system models, including use cases that accelerate digital financial inclusion.
• To understand different legal, ownership and governance structures that enable proportionate access to critical digital payment infrastructure by diverse stakeholders.
• To engage in discussions on pricing and costing at the system and service levels to ensure the viability and sustainability of payment systems.