1. Introduction

The purpose of this Reference Guide is to support African countries in developing and enhancing instant payment infrastructures through a clear, comprehensive framework of Scheme rules. It provides the foundational legal, operational, and governance provisions necessary to establish secure, efficient, and inclusive instant payment systems. The Reference Guide addresses both opportunities and challenges specific to the instant payments environment and offers actionable models for system implementation, management, and continuous evolution in diverse local contexts.

This Reference Guide covers the following areas essential to the design and implementation of instant payment Scheme rules:

• Scheme business purpose


• Governance models and decision-making processes


• Participation criteria and onboarding procedures


• Transaction processing rules and standards


• Settlement models and mechanisms


• Risk management frameworks and requirements


• Compliance and regulatory considerations


• Dispute resolution and exception handling


• User experience guidelines and requirements


• Pricing principles and models

The following items fall outside the scope of this Reference Guide:

• Detailed technical specifications for system implementation


• Specific software or hardware recommendations


• Country-specific regulatory requirements (beyond principles)


• Vendor selection guidance

This Reference Guide is designed to serve multiple stakeholder groups involved in the development, implementation, and oversight of instant payment systems. Each audience segment will utilize this document differently according to their specific roles and responsibilities within the payment ecosystem.

• Regulatory Authorities: This includes Central Banks and financial regulators tasked with overseeing national payment systems, formulating policy, and developing regulatory frameworks. These institutions require comprehensive guidance to foster secure, inclusive, and efficient Instant Payment Schemes that align with international standards while addressing domestic priorities.


• Payment System Operators/Managers: These are Entities responsible for managing or operating instant payment infrastructure, whether Central Banks, industry associations, or dedicated operators. These Institutions need detailed guidance on rule development, participant management, operational frameworks, and system modernisation to ensure reliable, efficient, and inclusive payment services.


• System Participants: Comprise financial institutions, payment service providers, and fintech that participate in instant payment systems. These institutions need a clear understanding of operational requirements, compliance obligations, technical specifications, and implementation approaches to effectively integrate with and utilize instant payment infrastructure.


• Technical Advisors: Consultants and advisors supporting the instant payment system implementation. These professionals can benefit from comprehensive reference materials that inform their advisory services and implementation support activities, enabling them to provide consistent, high-quality guidance aligned with international best practices and local requirements.