UBA, Redtech, MoMo PSB partner to expand merchant payment access

United Bank for Africa (UBA), Redtech, and MoMo PSB have launched a payment interoperability partnership to expand cardless payment access for consumers and merchants across Nigeria.

Redtech is backed by Heirs Holdings, while MoMo PSB is the fintech subsidiary of MTN Nigeria.

With this development, MoMo PSB customers can now make payments directly from their MoMo wallets at participating UBA merchant locations using the “Pay with MoMo” feature on RedPay POS terminals. Customers can also visit any UBA branch to make withdrawals and deposits.

For online shoppers, e-commerce merchants can now receive payments directly from MoMo PSB customers through Redtech’s payment gateway infrastructure.

The partnership integrates Redtech’s technology, UBA’s distribution network, and MoMo PSB’s vast wallet ecosystem.

Commenting, UBA’s Head of Digital Banking, Kayode Olubiyi, noted that the partnership addresses the gap between cash transactions and card access.

“By bringing ‘Pay with MoMo’ into our network, we are giving merchants a direct connection to MoMo PSB’s customer base,” he stated.

Redtech CEO Emmanuel Ojo in his remarks emphasized that the move aligns with Africapitalism, a concept championed by Heirs Holdings Chairman Tony Elumelu, by offering merchants and customers greater choice.

Menawhile, Acting CEO of MoMo PSB, Omolara Michael-Nwadu highlighted that the integration unlocks over 55,000 merchant touchpoints, removing barriers between bank-led and mobile money systems.

Similalry, Alero Ladipo, UBA’s Group Head of Brands, Marketing, and Corporate Communications, added that financial inclusion is a concrete commitment requiring the building of ecosystems rather than silos.

Pay with MoMo is currently being rolled out through RedPay POS terminals within the UBA network, which has already processed over ₦278.47 billion in transaction value. Plans are underway to extend this service to other African markets where both MoMo PSB and UBA operate.