UBA, Redtech, MoMo PSB Expand Merchant Payment Access Across Nigeria

In a significant move to bolster Nigeria's financial ecosystem, United Bank for Africa (UBA), Redtech, and MoMo PSB have joined forces to create a more seamless payment experience. This landmark partnership dramatically expands cardless payment access, benefiting both everyday consumers and the vast network of merchants. For MoMo PSB customers, the "Pay with MoMo" feature, integrated with Redtech's POS terminals at UBA merchant locations, offers unprecedented convenience. Furthermore, customers can now manage their MoMo accounts directly at any UBA branch, bridging the gap between mobile money and traditional banking. E-commerce is also set to benefit, with Redtech's payment gateway enabling direct payments from MoMo PSB customers. This collaboration, as highlighted by UBA's Head of Digital Banking, Kayode Olubiyi, directly addresses the identified gaps in cash transactions and card accessibility. "What this partnership represents is an honest and effective answer to the gap we identified in cash transactions and card access," Olubiyi stated. Redtech's CEO, Emmanuel Ojo, emphasized the practical application for everyday commerce. This initiative is a testament to the innovative spirit driving Nigeria's fintech sector, aiming to create a more inclusive and efficient payment landscape for all.

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What this partnership represents is an honest and effective answer to the gap we identified in cash transactions and card access. 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. That is a clear win for both sides.