The verdict in three sentences
A PSP is chosen on five criteria: operator coverage, fees, settlement delay, API/docs quality, and support. In 2026 fees span 1 to 3.8%, settlement runs T+1 to T+3, and a serious target uptime is 99.9%. On the anglophone side aim for Paystack, Flutterwave or Hubtel; on the francophone side Wave, PayDunya or CinetPay — the right choice depends on your countries and volume.
The five-criterion decision grid
Don't choose on the headline rate alone. Score each PSP on these five axes before signing.
| Criterion | What to check | Suggested weight |
|---|---|---|
| Operator coverage | Your operators in your target countries | High |
| Fees | Rate + fixed fees + payout fees | High |
| Settlement | Delay (T+1 to T+3) and currency | Medium |
| API & docs | Sandbox, webhooks, SDK, score /5 | High |
| Support | Responsiveness, channel, language | Medium |
A PSP at 2.2% with an impeccable API and T+1 settlement often beats a PSP at 1.6% with poor docs and unpredictable T+3 settlement.
Anglophone vs francophone comparison
The 2026 landscape pits francophone players well-rooted in WAEMU against anglophone players strong in Nigeria, Ghana and Kenya.
| PSP | Strong zone | Indicative fees | Settlement |
|---|---|---|---|
| Wave | SN, CI | 1% (Wave merchant) | T+1 |
| PayDunya | WAEMU | 2 to 3.5% | T+1 to T+3 |
| CinetPay | WAEMU + CEMAC | 2 to 3.5% | T+1 to T+3 |
| Paystack | NG, GH, ZA | 1.5 to 3.9% | T+1 |
| Flutterwave | Pan-African | 1.4 to 3.8% | T+1 to T+3 |
| Hubtel | Ghana | 1.5 to 3% | T+1 |
Rule: in francophone WAEMU, a pairing of Wave (low cost) + aggregator (coverage) is often optimal; for pan-African anglophone, Flutterwave or Paystack simplify life.
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Mini case study
Moussa launches a shop in Dakar with a planned extension to Abidjan and Bamako. He hesitates between direct Wave (1%) and CinetPay (3%). On Senegal alone, Wave saves him 2 points, i.e. 40,000 FCFA/month on 2,000,000 FCFA. But once he opens Côte d'Ivoire and Mali with several operators, the aggregator spares him three integrations. His decision: Wave direct for the Senegalese core, aggregator for expansion — the best of both worlds, arbitrated by the five-criterion grid.
FAQ
What's the most underrated criterion when choosing a PSP? API and docs quality. A poor sandbox or unreliable webhooks cost weeks of dev and lost payments, far more than 0.5% in fees.
What settlement delay should you target? T+1 is ideal for cash flow; T+3 remains acceptable if fees are low. Beyond that, your cash is tied up too long.
One PSP or several? Many merchants combine a low-cost PSP on their main market with an aggregator for multi-country coverage. This reduces dependency and optimizes cost.
Are the advertised fees the real fees? Not always: add fixed per-transaction fees, payout fees and any FX spread. Always compare the all-in cost on your average basket.
Can Kolonell choose and integrate the PSP, and can I earn a commission? Yes: we run the selection, integrate and test; and as a referral partner you earn 12% on an e-commerce project, 15% + 5% recurring on a showcase site, 10% on a marketplace, 8% on institutional.
Let's talk about your project. We'll score your candidate PSPs on the five criteria and integrate the winner. WhatsApp +221 77 596 93 33.
Mohamed Bah
Fondateur, Kolonell
Passionate about digital and entrepreneurship in Africa, Mohamed has been helping Sénégalese businesses with their digital transformation since 2020. Founder of Kolonell, he believes every SME deserves a professional and accessible online présence.
