UBA, Redtech, MoMo PSB expand cardless payment access

By Babajide Komolafe

United Bank for Africa (UBA), Redtech, and MoMo Payment Service Bank (PSB) have launched a payment interoperability partnership aimed at expanding cardless payment access for consumers and merchants across Nigeria.

With the initiative, MoMo PSB customers can now make payments directly from their wallets at UBA merchant locations using the “Pay with MoMo” feature on RedPay POS terminals. Customers can also carry out withdrawals and deposits at UBA branches, while e-commerce merchants can receive payments from MoMo users via Redtech’s payment gateway.

The partnership combines Redtech’s payment technology, UBA’s merchant-acquiring network, and MoMo PSB’s mobile money ecosystem, bridging the gap between banking platforms and telco-led wallets.

UBA’s Head of Digital Banking, Kayode Olubiyi, said the collaboration addresses challenges around cash transactions and limited card access, while expanding payment options for both merchants and customers.

Redtech Chief Executive Officer, Emmanuel Ojo, noted that the initiative is designed to enable seamless everyday transactions. He said the integration of RedPay technology with MoMo wallets through UBA’s network would give users more flexibility and ensure merchants do not lose customers due to payment limitations.

Similarly, Acting CEO of MoMo PSB, Omolara Michael-Nwadu, described the partnership as a major step toward interoperability in Nigeria’s payments ecosystem. She noted that integrating MoMo wallets into UBA’s network would eliminate barriers between banking and mobile money systems.

According to her, the collaboration will unlock access to over 55,000 merchant touchpoints nationwide, driving transaction volumes, increasing financial inclusion, and delivering greater value to businesses and consumers.

The post UBA, Redtech, MoMo PSB expand cardless payment access appeared first on Vanguard News.