UBA, Redtech, MoMo PSB Launch Interoperability Deal to Expand Cardless Payments in Nigeria
United Bank for Africa, Redtech, and MoMo PSB have unveiled a new payment interoperability partnership aimed at expanding seamless, cardless transactions for consumers and merchants across Nigeria.
The collaboration integrates Redtech’s payment infrastructure with UBA’s extensive merchant network and MoMo PSB’s mobile wallet ecosystem, enabling customers to make payments directly from their MoMo wallets at participating UBA merchant locations using the “Pay with MoMo” feature on RedPay POS terminals.
Under the arrangement, MoMo PSB users can also access basic banking services at UBA branches, including deposits into and withdrawals from their wallets. Additionally, e-commerce merchants can now accept payments directly from MoMo wallet users via Redtech’s payment gateway.
The initiative is expected to bridge a longstanding gap in Nigeria’s payments ecosystem by linking bank-led merchant services with telecom-driven mobile money platforms. Redtech, backed by Heirs Holdings, operates under licences from the Central Bank of Nigeria as both a Payment Terminal Service Provider and Payment Solution Service Provider.
Speaking at the launch, UBA’s Head of Digital Banking, Kayode Olubiyi, said the partnership addresses challenges around cash dependence and limited card access, while expanding opportunities for merchants and consumers alike.
Redtech CEO, Emmanuel Ojo, described the collaboration as a move toward more practical, everyday payment solutions, noting that it aligns with the Africapitalism philosophy championed by Tony Elumelu.
On her part, MoMo PSB’s Acting CEO, Omolara Michael-Nwadu, said the integration would unlock access to over 55,000 merchant touchpoints, driving financial inclusion and enabling more Nigerians to transact seamlessly across platforms.
UBA’s Group Head of Marketing and Communications, Alero Ladipo, highlighted the broader significance of the partnership, noting that collaboration among major industry players is key to achieving meaningful financial inclusion.
“Financial inclusion is not a slogan to us at UBA. It requires scale, technology, and a commitment to building ecosystems rather than silos,” she said.
The “Pay with MoMo” feature is being rolled out via more than 55,000 RedPay POS terminals already deployed across UBA’s network, which has processed over ₦278.47 billion in transactions and more than 12.23 million transaction volumes to date.
The service is now live in Nigeria, with plans underway to expand into other African markets where both UBA and MoMo PSB operate.
