arXiv:2604.11566v2 Announce Type: replace-cross Abstract: Digital payment systems are a cornerstone of African consumer finance, including money transfer applications, mobile money, cryptocurrencies, stablecoins, and central bank digital currencies (CBDCs). While many studies explore how people use digital payment systems (in Africa and beyond), little is known about how people choose and reason about categories of payment systems. We conducted qualitative interviews in three African countries--Nigeria, Tanzania, and Zimbabwe--to understand how and why people use various payment systems. Our study suggests that users navigate accounts and payments on multiple payment systems through a complex selection process based on perceived tradeoffs between utility, privacy, and security. Many users trust government issuers to protect them from scams, but they do not trust those same institutions to build reliable products or prioritize customer satisfaction. Our findings suggest compelling directions for regulators and the research community to design systems that balance users' trust and utility needs.