UBA partners MoMo PSB, Redtech to expand cardless payment

Adebayo Obajemu

United Bank for Africa partnered Redtech Limited and MoMo PSB to make payments easier across Nigeria.

The partnership allows people to pay without using physical cards, directly from their wallets at participating UBA merchant locations using the ‘ pay with Momo’ feature on Redplay POS terminals.

They can also visit any UBA branch to make withdrawals and deposits from and into their MoMo accounts. For online shoppers, e-commerce merchants can now receive payments directly from MoMo PSB customers through Redtech’s payment gateway infrastructure.

UBA’s Head, Digital Banking Kayode Olubiyi, who spoke during the launch, noted that this partnership represents the solutions to the gap identified in cash transactions and card access.

‘ What this partnership represents is an honest and effective answer to the gap we identified in cash transactions and cash 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 customers more places to use their wallets when they shop. That is a clear with for both sides’, he stated.

The partnership brings together Redtech’s payment technology and enablement capabilities, UBA’s merchant-acquiring and distribution layer, and MoMo PSB’s mobile money wallet ecosystem and customer base. Redtech holds licence as a Payment Terminal Service Provider (PTSP) and Payment Solution Service Provider (PSSP) from the Central Bank of Nigeria, authorizing it to provide both POS and payment gateway services. Together, the three organizations are addressing a critical gap in Nigeria’s payments market – connecting banking-led merchant acceptance with telco-led mobile money wallets.

Redtech’s Chief Executive Officer, Emmanuel Ojo, emphasized that the partnership aims to make payments work better together in a way that is practical for everyday commerce.

“This partnership is about making payments work more seamlessly for everyday commerce and most importantly, It aligns with Africapitalism, as championed by the Chairman of Heirs Holdings, Tony Elumelu, CFR. By integrating our RedPay technology with MoMo PSB’s wallets through the UBA network, we will offer merchants and customers greater choice. Our goal is to build the payment infrastructure that ensures a merchant never has to turn away any customer in Nigeria or across Africa because of their preferred payment method. By connecting our technology with MoMo PSB’s wallets through the UBA network, we are giving merchants and customers more options”

UBA’s Group Head, Brands, Marketing and Corporate Communications, Alero Ladipo, captured the broader significance of the moment at the signing ceremony. “Every institution in this room is a giant in its own right. What makes today meaningful is the decision to come together anyway,” she said. Ladipo added, “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. This partnership is that commitment made concrete.”

Pay with MoMo is being introduced through RedPay POS terminals already deployed within UBA’s merchant network. More than 55,000 RedPay POS terminals have been deployed across the network, with the platform having processed over ₦278.47 billion in transaction value and more than 12.23 million transactions to date.