Segun Atanda/
United Bank for Africa (UBA), Redtech and MTN’s MoMo PSB have entered into a strategic payment interoperability partnership aimed at expanding cardless payment access for millions of consumers and merchants across Nigeria, in a move expected to accelerate financial inclusion and digital commerce nationwide.
The collaboration enables MoMo PSB customers to make payments directly from their mobile wallets at participating UBA merchant locations through the “Pay with MoMo” feature deployed on RedPay Point-of-Sale terminals.
Under the arrangement, MoMo users can also conduct deposits and withdrawals at any UBA branch nationwide, while e-commerce merchants connected to Redtech’s payment gateway infrastructure can now accept payments directly from MoMo wallet holders.
The initiative links UBA’s expansive merchant-acquiring network with Redtech’s payment infrastructure and MoMo PSB’s growing mobile money ecosystem, bridging a long-standing gap between traditional banking channels and telecom-driven digital wallets.
The rollout is already live across more than 55,000 merchant touchpoints within UBA’s network, significantly widening the reach of mobile money payments in Nigeria’s retail economy.
Speaking during the launch, UBA’s Head of Digital Banking, Kayode Olubiyi, described the partnership as a practical response to persistent challenges surrounding cash transactions and limited card access.
“What this partnership represents is an honest and effective answer to the gap we identified in cash transactions and card access,” he said.
“Our merchants are already serving millions of customers every day through the UBA network. By bringing Pay with MoMo into that network, we are giving those merchants a direct connection to MoMo PSB’s customer base, and giving MoMo PSB customers more places to use their wallets when they shop.”
Redtech Chief Executive Officer, Emmanuel Ojo, said the partnership aligns with the Africapitalism philosophy championed by Tony Elumelu and is designed to remove payment barriers for merchants and consumers.
According to him, the goal is to build a payment ecosystem where merchants no longer lose sales because of customers’ preferred payment methods.
“This partnership is about making payments work more seamlessly for everyday commerce,” Ojo said.
“By integrating our RedPay technology with MoMo PSB’s wallets through the UBA network, we are giving merchants and customers greater choice.”
Acting Chief Executive Officer of MoMo PSB, Omolara Michael-Nwadu, said the collaboration marks a major milestone in Nigeria’s evolving digital payments ecosystem.
She noted that integrating MoMo wallets into UBA’s merchant network through Redtech’s infrastructure would eliminate barriers between banking systems and mobile money platforms while unlocking access to thousands of merchant locations.
“This partnership marks a significant step toward true interoperability in Nigeria’s payments ecosystem,” she said.
“At MoMo PSB, our focus is on simplifying payments, expanding access to financial services and helping more Nigerians do more every day.”
UBA’s Group Head of Brands, Marketing and Corporate Communications, Alero Ladipo, described the partnership as a demonstration of industry collaboration in driving financial inclusion.
“Financial inclusion is not a slogan to us at UBA. It is a commitment that requires scale, technology, and the willingness to build ecosystems rather than silos,” she stated.
Industry analysts say the partnership could strengthen digital payment adoption in Nigeria, where mobile money penetration continues to grow amid efforts by regulators and financial institutions to reduce cash dependency and expand access to formal financial services.
Redtech disclosed that more than 55,000 RedPay POS terminals have already been deployed across the UBA merchant network, with the platform processing over ₦278.47 billion in transaction value and more than 12.23 million transactions to date.
The partners said the initiative will initially focus on Nigeria before expanding into selected African markets where both UBA and MoMo PSB maintain operations.
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