As digital payments continue to expand across Francophone Africa, the ecosystem is moving into a more mature phase where the core challenge is no longer access alone, but reliability, interoperability and user trust. The rise of mobile money, the diversification of market participants and the surge in transaction volumes now require stronger infrastructure capable of supporting long-term adoption in economies that remain largely cash-based.

Against this backdrop, Visa Connect is being held as a platform for strategic discussion on the future of payments in West and Central Africa. In this interview with Ecofin Agency, Ismahill Diaby, Vice President for Francophone and Lusophone West and Central Africa, and Sophie Kafuti, Country Manager for Visa in the DRC, examine the sector’s structural shifts, evolving fraud and security risks, the complementary roles of banks, fintechs, telecom operators and governments, and the policy decisions needed to support the broader expansion of digital payments across the region.

Ecofin Agency: Visa Connect is taking place at a pivotal moment for payments in Francophone Africa. What message does the event send about the sector’s future in the region?

Ismahill Diaby & Sophie Kafuti: Visa Connect comes at a turning point for digital payments in Francophone Africa. Over the past decade, the primary challenge was access, largely driven by the rise of mobile wallets. That phase is now behind us. The region counts roughly 247 million mobile money wallets across a population of 340 million. The question is no longer whether digital payments exist, but whether they can remain reliable as volumes scale. Consumers, businesses and governments now expect interoperable, secure and resilient systems rather than experimental pilots. Visa Connect reflects this shift. The focus is no longer on testing but on building sustainable infrastructure, particularly in markets where smartphone penetration remains below 50%, making reliability and ease of use even more critical.

EA: What are the concrete economic implications of “Connected Futures”?

ID & SK: “Connected Futures” rests on a simple idea: utility attracts users, but trust keeps them. Digital tools may be widely available and adoption may grow quickly, but without confidence in the system, usage does not become sustainable.

Trust depends on tangible factors such as transaction success rates, effective fraud prevention and clear dispute resolution mechanisms. In West and Central Africa, 98% of fraud is linked to remote payments, including online transactions, which directly weakens confidence in digital commerce.

When trust erodes, users revert to cash even when digital alternatives are available. Connected Futures is therefore about aligning technology, regulation and user experience around a single objective: reliability.

When trust erodes, users revert to cash even when digital alternatives are available. Connected Futures is therefore about aligning technology, regulation and user experience around a single objective: reliability.

EA: If you could point to one priority for African public sector leaders, what decision today would most shape the future of payments in Francophone Africa?

Ismahill Diaby: Across Francophone Africa, the single most important step would be to make payment reliability and interoperability a public policy priority. The region is structurally diverse, with multiple currencies, central banks and regulatory frameworks. Seeking uniformity would be unrealistic. Ensuring that systems are compatible, predictable and able to operate together, however, is both achievable and transformative.

When interoperability is built in from the outset across banks, mobile money providers, fintechs and public infrastructure, it lowers costs, improves performance and allows payments to scale sustainably. The role of government is not to pick winners but to create the conditions for a coherent ecosystem that can support sustained growth in usage.

Sophie Kafuti: In the DRC, the challenges are well known: access to electricity, internet connectivity, system interoperability and policy consistency. These constraints are real and must be addressed. But beyond these obstacles, what is still missing is a consistent user experience. Payments that work every time. Costs that are clear, predictable and transparent. Dispute resolution mechanisms that are simple, visible and effective.

As long as that reliability is not embedded in everyday life, adoption remains fragile and cash remains the default, not by preference but for safety. For public sector leaders, the message is clear: invest in robust infrastructure, foster genuine coordination among stakeholders and ensure that regulation supports real usage rather than formal compliance. In the DRC, trust cannot be decreed. It is not built through announcements or speeches. It is built through payments that work, day after day, transaction after transaction. Reliability is not a competitive advantage. It is the non-negotiable foundation of adoption.

EA: Africa’s payments ecosystem now includes a wide range of players, particularly across Francophone and Lusophone West and Central Africa under your remit, Mr. Diaby. Among banks, fintechs, telecom operators and governments, who is driving the transformation of payments in the region?

ID: Payments transformation is not driven by any single player. It is fundamentally systemic. No link in the chain can move forward alone. In a region of 230 million people spanning 17 countries, five currencies, multiple central banks and different domestic switches, each actor controls a critical layer of the ecosystem. Banks bring trust and balance sheet strength. Fintechs bring speed and innovation. Telecom operators provide reach and mass access. Governments provide legitimacy, the rules of the game and national infrastructure.

Fintechs bring speed and innovation. Telecom operators provide reach and mass access. Governments provide legitimacy, the rules of the game and national infrastructure.

Real scale emerges when these actors stop operating in silos and begin orchestrating their roles. Transformation accelerates when roles are complementary and incentives are aligned. In our region, ecosystem-wide coordination is not a secondary issue. It is a structural requirement.

EA: As payments go digital, fraud risks increase. How do you balance rapid financial inclusion with high security standards in fragile environments?

ID: Inclusion without security is temporary. Trust is what makes inclusion sustainable. The rapid shift to digital payments expands access, but it also increases exposure to fraud and operational risk. In West and Central Africa, 98% of fraud is linked to card-not-present transactions, a figure that directly undermines confidence in digital commerce. Globally, Visa prevented approximately $30 billion in fraud in 2024 and currently blocks nearly 340 million bot attacks per month, with malicious activity rising by 25% in early 2025. These figures point to a simple reality: threats are expanding as quickly as usage.

The issue is not choosing between inclusion and security, but embedding protection without adding friction. Sustainable inclusion depends on systems that are both accessible and resilient. The best security is invisible. Users do not experience it as a constraint, but as consistent reliability.

EA: Does trust in digital payments stem primarily from technology, regulation or user experience?

ID: Trust cannot be imposed through technology or regulation. It is built through experience. Users evaluate payment systems based on tangible criteria such as speed, reliability and fairness. Even limited friction, such as a false decline or a failed payment, can have a disproportionate impact on trust.

Trust cannot be imposed through technology or regulation. It is built through experience. Users evaluate payment systems based on tangible criteria such as speed, reliability and fairness

Transaction data show $627 million in declined purchase volumes, highlighting the real cost of friction. Conversely, when issues are resolved quickly, with response times below six seconds supported by AI-powered customer service tools, trust strengthens.

Users do not judge systems through regulatory frameworks or institutional messaging. They judge through results: did it work, was it fast, was it secure? Reducing friction and false declines builds trust more effectively than any communication strategy.

EA: Francophone Africa is often described as a fragmented market still playing catch-up. How can the region chart a coherent path forward despite differing regulatory frameworks and varying levels of maturity?

ID: West and Central Africa are structurally diverse. The solution is therefore not uniformity but interoperability.

With 17 countries, five currencies and multiple national infrastructures, full standardisation would be both unrealistic and counterproductive. Shared standards are far more effective than identical rules. Interoperability enables scale while preserving regulatory sovereignty.

EA: Why has cash remained dominant even as mobile money expands?

ID: The main barrier is not habit. It is trust. Today, around 87% of transactions in the region are still conducted in cash, and nearly 83% of the population remains unbanked. Cash is predictable, immediate and universally accepted. Digital alternatives lose credibility when transactions fail or dispute resolution is unclear. Behavior does not change through persuasion, but through reliability. Reducing friction is the most effective path toward a sustainable shift away from cash.

EA: In your view, which payment trends will truly matter in five to 10 years?

ID: The next phase of payments will be defined by invisibility, not novelty. Consumers want fewer interruptions, not more tools. Winning experiences are fast, seamless and secure. When payments integrate naturally into daily life, usage expands effortlessly. Payments become infrastructure rather than a decision point. This supports productivity, particularly for SMEs and cross-border commerce.

EA: Is there a risk that innovation could advance faster than market adoption?

ID: Technological sophistication only has value if it aligns with economic reality. SMEs and informal sector players face significant cost and complexity constraints. Over-engineered solutions risk creating exclusion rather than inclusion.

The next phase of payments will be defined by invisibility, not novelty. Consumers want fewer interruptions, not more tools. Winning experiences are fast, seamless and secure.

Adoption follows practicality, not technical ambition. Solutions must be simple, affordable and easy to deploy. Mobile acceptance and simplified onboarding are the main drivers of large-scale adoption.

EA: Ms. Kafuti, you are the Country Manager for Visa in the Democratic Republic of Congo. What sets the DRC payments landscape apart?

SK: The DRC is an exceptionally large market, but one with significant execution complexity. With nearly 110 million inhabitants today and a projected 218 million by 2050, the potential is immense. The country has around 28 million mobile wallets, suggesting that access has expanded substantially. The challenge, however, has evolved. The priority is no longer basic adoption but interoperability. Connecting banks, fintechs, mobile operators and payment facilitators is essential to moving beyond isolated transactions toward a fully integrated ecosystem, and to making de-dollarization credible and sustainable over the medium term.

EA: Why has mobile money’s success not led to greater formalization?

SK: Digital payments are an entry point, not a substitute for formalization. Mobile money has normalized digital transactions, but formalization requires integration with identity systems, reporting mechanisms and formal financial services. In the DRC, there are only six to eight million bank accounts, representing roughly 11 to 15% of the adult population. Without integration into the broader financial system, usage remains shallow and does not translate into structural impact.

EA: What are the key friction points in the DRC payments ecosystem today?

SK: In the Democratic Republic of Congo, the main barrier is not a single issue but the combination of constraints that together limit the expansion of digital payments.

First, transaction costs remain high for much of the population and for small merchants. This discourages frequent use and prevents digital payments from becoming a daily habit. Second, user experience is inconsistent. When processes differ across providers, or transactions fail without clear explanation, trust erodes quickly.

Interoperability also remains limited, preventing network effects from taking hold. The systems exist, but they are not yet sufficiently interconnected. As a result, usage remains fragmented and the benefits of scale are difficult to unlock.

Addressing any single barrier in isolation is insufficient. It is the coherence of the entire system across costs, user experience and interoperability that determines long-term trust and adoption.

The data reflect this clearly. Only 11 to 15% of adults hold a bank account, POS terminal density is roughly 40 times lower than the sub-Saharan African average, and cash still accounts for the vast majority of daily transactions.

In this context, addressing any single barrier in isolation is insufficient. It is the coherence of the entire system across costs, user experience and interoperability that determines long-term trust and adoption.

EA: What role does the public sector play in scaling payments in the DRC?

SK: Leadership starts at the top. In the DRC, public sector modernization defines how far the private sector can scale. Domestic switch projects, digital identity and e-government are not optional. They are the foundation of the entire ecosystem.

The target is 65% financial inclusion by 2028. But beyond coverage, it is the credibility and reliability of systems that will build national trust and allow the ecosystem to scale. At Visa, we support these initiatives with a clear commitment: leveraging technology to advance financial inclusion and sustainable development. We believe in solutions that go beyond innovation to deliver measurable impact by building trust, expanding access to financial services and supporting more equitable and resilient economic growth. 

Interview by Moutiou Adjibi Nourou