Bank launches China payment system
Standard Bank Namibia has launched its Cross-Border Interbank Payment System (CIPS) capability, becoming the first bank in Namibia to give clients direct access to China’s international payment system. Launched on Monday in Windhoek, the CIPS is expected to strengthen financial connectivity between Namibia and China by enabling faster, more efficient and cost-effective cross-border payments for […] The post Bank launches China payment system appeared first on The Namibian .
Standard Bank Namibia has launched its Cross-Border Interbank Payment System (CIPS) capability, becoming the first bank in Namibia to give clients direct access to China’s international payment system.
Launched on Monday in Windhoek, the CIPS is expected to strengthen financial connectivity between Namibia and China by enabling faster, more efficient and cost-effective cross-border payments for businesses trading and investing between the two countries.
The development follows Standard Bank Group becoming the first African bank authorised to participate in CIPS in November 2025.
The group also became the first African-based bank jointly authorised with the Industrial and Commercial Bank of China (ICBC) to clear renminbi (RMB) transactions across Africa as the Renminbi Clearing Bank of Africa.
