United Bank for Africa (UBA), Redtech, and MoMo Payment Service Bank (MoMo PSB) have launched a payment interoperability partnership aimed at expanding cardless payment access for consumers and merchants across Nigeria.
Under the initiative, MoMo PSB customers can make payments directly from their wallets at UBA merchant locations using the “Pay with MoMo” feature on RedPay POS terminals.
The arrangement also allows customers to carry out withdrawals and deposits at UBA branches, while e-commerce merchants can receive payments from MoMo users through Redtech’s payment gateway.
The partnership combines Redtech’s payment technology, UBA’s merchant-acquiring network, and MoMo PSB’s mobile money ecosystem, in a move designed to bridge the gap between traditional banking platforms and telecom-led wallet services.
UBA’s Head of Digital Banking, Kayode Olubiyi, said the collaboration addresses challenges associated with cash transactions and limited card access, while expanding payment options for both merchants and customers.
Chief Executive Officer of Redtech, Emmanuel Ojo, noted that the initiative is focused on enabling seamless everyday transactions, adding that the integration of RedPay technology with MoMo wallets through UBA’s network would provide greater flexibility for users and reduce lost sales for merchants.
Similarly, Acting CEO of MoMo PSB, Omolara Michael-Nwadu, described the partnership as a significant step toward achieving interoperability in Nigeria’s payments ecosystem.
She said integrating MoMo wallets into UBA’s network would eliminate existing barriers between banking systems and mobile money platforms, while unlocking access to more than 55,000 merchant touchpoints nationwide.
The collaboration is expected to drive transaction volumes, deepen financial inclusion, and deliver greater value to both businesses and consumers.
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