UBA, Redtech, MoMo PSB Partner To Expand Cardless Payments Across Nigeria
Written by Rashidat O. Okunlade
United Bank for Africa has entered a strategic interoperability partnership with Redtech and MoMo PSB to broaden access to cardless payments for consumers and merchants nationwide, in a move aimed at deepening financial inclusion and streamlining everyday transactions.
The collaboration introduces the “Pay with MoMo” feature across more than 55,000 merchant locations within UBA’s network, allowing MoMo PSB customers to pay directly from their mobile wallets via Redtech’s RedPay point-of-sale (POS) terminals. The integration also enables MoMo users to carry out deposits and withdrawals at UBA branches, while e-commerce merchants can now accept MoMo payments through Redtech’s gateway infrastructure.
Backed by Heirs Holdings, Redtech operates under licences from the Central Bank of Nigeria as both a Payment Terminal Service Provider (PTSP) and Payment Solution Service Provider (PSSP), positioning it as a key enabler in bridging banking infrastructure with mobile money ecosystems.
Speaking at the launch, UBA’s Head of Digital Banking, Kayode Olubiyi, described the partnership as a practical response to persistent gaps in cash transactions and limited card access. He noted that integrating MoMo into UBA’s merchant network creates a two-sided benefit—expanding wallet usability for customers while increasing transaction volumes for merchants.
Redtech Chief Executive Officer, Emmanuel Ojo, framed the initiative as a step toward seamless commerce, aligning with the Africapitalism philosophy championed by Tony Elumelu. According to him, the goal is to eliminate payment friction by ensuring merchants can accept multiple payment methods without limitations.
On her part, Acting CEO of MoMo PSB, Omolara Michael-Nwadu, emphasised that the integration removes structural barriers between bank-led and telco-led financial systems. She said the rollout unlocks access to thousands of additional merchant touchpoints, enabling scale, higher transaction volumes, and improved customer engagement.
UBA’s Group Head of Marketing and Corporate Communications, Alero Ladipo, underscored the broader industry significance, noting that collaboration across major financial players is essential to building inclusive financial ecosystems rather than siloed platforms.
With over ₦278.47 billion in processed transaction value and more than 12.23 million transactions recorded on RedPay terminals to date, the platform is expected to significantly accelerate digital payment adoption. The partners confirmed that while the rollout begins in Nigeria, expansion into other African markets is planned in line with their regional footprints.
The initiative reflects a growing convergence between banking institutions and telecom-driven fintech platforms, as stakeholders intensify efforts to deliver interoperable, accessible, and scalable payment solutions across the continent.
