UBA, MoMo PSB, Redtech Launch Cross-Platform Payments Partnership

United Bank for Africa (UBA), MoMo PSB, and Redtech have entered a strategic partnership aimed at advancing payment interoperability across banking and mobile money platforms in Nigeria, with expansion plans across Africa.

The collaboration is designed to eliminate long-standing barriers between bank-led merchant payment systems and telco-led mobile money wallets, enabling seamless transactions across different financial ecosystems.

Under the arrangement, MoMo PSB’s wallet infrastructure is integrated with UBA’s merchant-acquiring network through Redtech’s RedPay payment technology. The system allows MoMo customers to make payments at more than 55,000 UBA merchant locations, as well as carry out branch-related transactions such as deposits and withdrawals.

UBA’s Group Head of Brands, Marketing and Corporate Communications, Alero Ladipo, said the partnership reflects a shared commitment to building inclusive financial systems rather than fragmented services.

“Every institution in this room is a giant in its own right. What makes today meaningful is the decision to come together anyway,” Ladipo said.

She added that “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.”

UBA’s Head of Digital Banking, Kayode Olubiyi, said the collaboration addresses key challenges affecting cashless transactions and payment accessibility across customer segments.

“What this partnership represents is an honest and effective answer to the gap we identified in cash transactions and card access,” Olubiyi said.

He added that integrating “Pay with MoMo” into UBA’s merchant network creates wider access for both merchants and customers.

“By bringing ‘Pay with MoMo’ into the UBA network, we are giving merchants a direct connection to MoMo PSB’s customer base, and giving MoMo PSB customers more places to use their wallets. That is a clear win for both sides,” he said.

MoMo PSB, a subsidiary of MTN Nigeria, described the partnership as a major step toward achieving full interoperability in the financial services sector.

The Acting Chief Executive Officer of MoMo PSB, Omolara Michael-Nwadu, said the initiative is focused on removing platform restrictions that limit payment convenience.

“We are building a more connected financial ecosystem where payments aren’t tied to platforms but to a seamless customer experience,” she said.

She added that integrating MoMo wallets into UBA’s merchant network through Redtech infrastructure expands access to thousands of transaction points across the country.

“Integrating MoMo wallets into UBA’s merchant network through Redtech’s infrastructure unlocks access to over 55,000 touchpoints, bringing useful financial services closer to where people live and work,” she said.

Redtech, the technology firm powering the integration, said the partnership supports broader financial inclusion goals and improves payment efficiency across retail and commercial sectors.

The Chief Executive Officer of Redtech, Emmanuel Ojo, said the initiative is aligned with efforts to strengthen payment systems across Africa.

“This partnership is about making payments work more seamlessly for everyday commerce,” Ojo said.

He added that the goal is to ensure merchants can accept payments from all customers regardless of payment preference.

“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,” he said.

The “Pay with MoMo” feature is already operational across RedPay POS terminals, which have processed over N278.47bn in transactions.

The partners confirmed that after the Nigerian rollout, the service will be expanded to other African markets where UBA and MoMo PSB operate, as part of broader efforts to strengthen cross-border payment interoperability.

Industry observers say the development reflects growing collaboration between banks, fintechs, and telecom-based financial services to deepen digital payment adoption and expand financial inclusion across the continent.