United Bank for Africa (UBA), Redtech and MoMo PSB have launched a payment partnership to expand cardless transactions across Nigeria.
The companies said the arrangement allows MoMo PSB users to pay directly from their wallets at UBA merchant locations using the “Pay with MoMo” option on RedPay terminals.
Customers can also carry out withdrawals and deposits from their MoMo accounts at UBA branches. For online transactions, merchants can receive payments from MoMo users through Redtech’s payment gateway.
The partnership connects Redtech’s payment systems, UBA’s merchant network and MoMo PSB’s wallet users.
Redtech operates as a payment terminal service provider and payment solution service provider under licences from the Central Bank of Nigeria.
The companies said the arrangement links merchant payment systems with mobile money platforms.
UBA’s head of digital banking Olukayode Olubiyi said the partnership addresses gaps in cash transactions and card access.
“Our merchants already serve customers through the UBA network. By adding Pay with MoMo, we are connecting them to MoMo users and giving customers more options,” he said.
Redtech chief executive officer Emmanuel Ojo said the partnership is aimed at improving how payments work for daily transactions.
“Our goal is to build a system where merchants can accept different payment methods without turning customers away,” he said.
MoMo PSB chief executive officer Omolara Michael-Nwadu said the integration will increase access to merchant locations.
“This gives our customers more places to use their wallets and supports access to financial services,” she said.
UBA’s group head of marketing and corporate communications Alero Ladipo said the partnership shows the need for cooperation in the financial sector.
“Financial inclusion requires scale, technology and collaboration,” she said.
More than 55,000 RedPay terminals are already in use within UBA’s network. The platform has processed over N278.47 billion in transactions and more than 12 million payments.
The companies said the service has started in Nigeria and will be extended to other African markets where they operate.
