UBA, Others Partner To Deepen Cardless Payments

United Bank for Africa (UBA), Redtech, a payment system by Heirs Holdings and MoMo PSB, MTN’s Fintech subsidiary, have launched a payment interoperability partnership aimed at expanding cardless payment access for consumers and merchants nationwide.

Under the arrangement, MoMo PSB customers can make payments directly from their wallets at participating UBA merchant locations using the “Pay with MoMo” feature on RedPay POS terminals. They can also access withdrawal and deposit services at any UBA branch linked to their MoMo accounts. In addition, e-commerce merchants can now receive payments from MoMo users through Redtech’s payment gateway.

The collaboration integrates Redtech’s payment technology, UBA’s merchant acquiring network and MoMo PSB’s mobile money ecosystem to bridge gaps between banking-led merchant acceptance and telco-driven wallet services. Redtech, licensed by the Central Bank of Nigeria as both a Payment Terminal Service Provider and Payment Solution Service Provider, will provide POS and gateway infrastructure for the initiative.

UBA’s head, Digital Banking, Kayode Olubiyi, who spoke during the launch, noted that this partnership represents the solution 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 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.”

Redtech’s chief executive officer, Emmanuel Ojo, emphasised 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.

“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”

Ag. CEO, MoMo PSB, Omolara Michael-Nwadu, who highlighted the barriers to payment in the country, emphasised the importance of partnerships, explaining how integrating MoMo wallets into UBA’s merchant network through Redtech’s infrastructure will unlock additional merchant touchpoints.

“This partnership marks a significant step toward true interoperability in Nigeria’s payments ecosystem. By integrating MoMo wallets into UBA’s merchant network through Redtech’s infrastructure, we are removing barriers between bank-led and mobile money systems while unlocking access to over 55,000 merchant touchpoints. Our focus is on driving usage at scale, enabling more transactions, deeper engagement, and greater value for merchants.

“At MoMo PSB, we are building a more connected financial ecosystem where payments aren’t tied to platforms but to a seamless customer experience. At MoMo PSB, our focus is on simplifying payments, expanding access to financial services and helping more Nigerians do more every day. Pay with MoMo gives our customers more places to use their wallets, while supporting broader financial inclusion by bringing useful financial services closer to where people live, work and do business.”

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.”