The Pan African Payment and Settlement System (PAPSS) developed by Afreximbank is a centralized payment, clearing and settlement system for intra-African trade payments that was adopted as the payment and settlement system to support the implementation of the African Continental Free Trade Area (AfCFTA) during the 12th Extraordinary Session of the Assembly of the AU held in Niamey, Niger in July 2018 (Assembly/AU/Dec.1(XII)).