Africa’s Global Bank Unveils Innovative Payment Solutions to Boost SME Growth and Financial Inclusion
Ololade Adeyanju/
United Bank for Africa (UBA) Plc has launched its upgraded Point of Sale (PoS) Terminal and a revamped UBA MONI App, signaling a bold step in its mission to accelerate digital payments and empower small and medium-scale enterprises (SMEs) across Africa.
In a high-profile event held at the bank’s corporate headquarters in Marina, Lagos, UBA executives unveiled the enhanced platforms, which are designed to simplify banking, improve efficiency, and foster greater trust in digital financial services.
The upgraded PoS device now offers features such as instant settlement, real-time transaction monitoring, pay-by-link functionality, and a 100% transaction success rate, providing merchants with faster, more reliable service. The terminals are built to support businesses of all sizes, reflecting UBA’s commitment to innovation and inclusivity.
Also unveiled was the redesigned UBA MONI App, tailored to strengthen UBA’s growing agency banking network. It comes with an improved user interface and advanced features such as pay-by-transfer, secret question security, an enhanced inbox, and a more intuitive homepage. Core offerings like instant account opening with BVN/NIN, real-time money transfers, cash services, and agent discounts on airtime and data remain central to the app’s functionality.
Speaking at the unveiling, Shamsideen Fashola, Group Head, Retail and Digital Banking at UBA, emphasized the bank’s forward-thinking approach:
“At UBA, we are constantly innovating to provide seamless and secure payment solutions for businesses of all sizes. These platforms empower merchants and agents with the tools they need to thrive in today’s fast-paced economy.”
He described the PoS terminal not just as a payment device, but as a strategic business enabler. “With UBA’s robust infrastructure and widespread reach, we are bringing confidence and convenience to every transaction,” Fashola added.
Under the campaign theme, “Innovation for Progress: Empowering SMEs, Connecting Communities, Simplifying Banking,” UBA’s latest digital tools reaffirm the bank’s role as a trailblazer in financial inclusion, poised to deepen access to secure, efficient banking services across the continent.
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