Amanze Chinonye
A new interoperability arrangement between United Bank for Africa (UBA), Redtech, and MoMo PSB has expanded cardless and wallet-based payments across Nigeria, linking bank-led merchant networks with telecom-driven mobile money systems in a move aimed at deepening financial inclusion and easing everyday transactions, Prime Business Africa reports.
Under the partnership, MoMo PSB customers can now make payments directly from their mobile money wallets at participating UBA merchant locations using the “Pay with MoMo” feature on RedPay POS terminals.
Customers are also able to carry out cash deposits and withdrawals at UBA branches linked to their MoMo accounts, while e-commerce merchants integrated with Redtech’s payment gateway can now accept payments directly from MoMo wallet holders.
Join our WhatsApp ChannelREAD ALSO :
MTN Nigeria’s Momo Plans To Merge With Digital Financial Limited
The collaboration brings together the payment infrastructure of Redtech, the merchant-acquiring and distribution network of United Bank for Africa, and the mobile money ecosystem operated by MoMo PSB, a fintech subsidiary of MTN Nigeria.
Redtech, which holds Central Bank of Nigeria licences as both a Payment Terminal Service Provider and Payment Solution Service Provider, provides the underlying POS and payment gateway technology enabling the integration.
Speaking at the launch, UBA’s Head of Digital Banking, Kayode Olubiyi, said the initiative directly addresses long-standing gaps in cash usage and card accessibility, noting that it connects merchants to a wider pool of customers while expanding payment options for consumers.
Redtech Chief Executive Officer, Emmanuel Ojo, described the partnership as a step toward simplifying everyday commerce, saying the integration of systems would ensure merchants do not lose customers due to payment limitations, while also aligning with broader goals of building inclusive financial infrastructure across Africa.
On her part, Acting Chief Executive Officer of MoMo PSB, Omolara Michael-Nwadu, said the collaboration advances interoperability in Nigeria’s financial ecosystem by breaking barriers between bank-led and mobile money platforms, while unlocking access to more than 55,000 merchant touchpoints.
READ MORE :
UBA’s Group Head of Brands, Marketing and Corporate Communications, Alero Ladipo, also highlighted the significance of the alliance, stressing that the decision by major financial and technology institutions to collaborate reflects a shift from isolated systems to ecosystem-driven financial services aimed at driving inclusion at scale.
According to the organisations, the Pay with MoMo feature is already live on RedPay POS terminals within UBA’s merchant network, which has processed over ₦278.47 billion in transactions across more than 12.23 million payment events.
The rollout is expected to expand further across selected African markets where the partners currently operate.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
