MoMo PSB, UBA & RedTech In Deal To Boost Digital Payments Access Across Nigeria, Africa

MoMo PSB, the financial subsidiary of MTN Nigeria, has entered a strategic partnership with United Bank for Africa (UBA) and RedTech, the technology arm of UBA, to expand digital payment access across Nigeria and key African markets.

The partnership was formally announced at a signing ceremony held at UBA’s head office in Lagos on 5th May 2026.

This collaboration will enable the seamless integration of MoMo as a payment option across RedTech’s payment infrastructure, including its Point-of-Sale (POS) terminals and Payment Gateway. This integration allows customers to complete transactions directly from their MoMo wallets when paying for goods and services across RedTech-enabled merchant locations.

By simplifying the payment process, the partnership enhances flexibility for consumers, reduces friction at checkout, and broadens the range of accessible digital payment options for both merchants and customers. Additionally, MoMo customers will be able to visit any UBA branch to withdraw or deposit funds into their MoMo accounts, further strengthening financial accessibility.

The partnership brings together complementary capabilities. RedTech operates as a licensed Payment Solution Service Provider (PSSP) and Payment Terminal Service Provider (PTSP), while MoMo PSB is licensed by the Central Bank of Nigeria (CBN) as a Payment Service Bank, with a mandate to drive financial inclusion through mobile-led banking services.

Speaking on partnership, MoMo PSB Ag. CEO, Omolara Micheal-Nwadu said: “This partnership marks a significant step toward true interoperability in Nigeria’s payments ecosystem. By integrating MoMo wallets into UBA’s merchant network through RedTech’s infrastructure, we are removing barriers between bank-led and mobile money systems while unlocking access to over 55,000 merchant touchpoints. Our focus is on driving usage at scale, enabling more transactions, deeper engagement, and greater value for merchants. Pay with MoMo gives our customers more places to use their wallets, while supporting the broader financial inclusion, bringing useful financial services closer to where people live, work and do business.”

Chief Executive Officer, Redtech, Emmanuel Ojo said, “This partnership is about making payments work more seamlessly for everyday commerce. It aligns with Africapitalism, as championed by the Chairman of Heirs Holdings, Mr. Tony Elumelu, CFR. By integrating our RedPay technology with MoMo PSB’s wallets through the UBA network, we will offer merchants and customers greater choice. Our goal is to build the payment infrastructure that ensures a merchant never has to turn away a customer in Nigeria or across Africa because of the payment method they prefer.”

Also Speaking, Emmanuel Lamptey, Executive Director Designate, Digital Banking, UBA Group, said: “Our merchants are already serving millions of customers every day through the UBA network. By bringing Pay with MoMo into that network, we are giving those merchants a direct connection to MoMo PSB’s customer base – giving MoMo PSB customers more places to use their wallets when they shop. That is a clear win for both sides.”

Beyond Nigeria, MoMo’s presence across 16 African markets provides a strong foundation for RedTech’s pan-African expansion strategy. The partnership positions both organizations to scale payment solutions across borders, enabling consistent and inclusive digital commerce experiences across the continent.

At its core, the RedTech, UBA and MoMo collaboration reinforces a shared vision of financial inclusion by extending digital payment access to underserved, unbanked, and underbanked populations. By combining mobile money infrastructure with reliable payment technology, the partnership aims to unlock broader participation in the digital economy and accelerate growth for businesses and individuals alike.