Redtech is backed by Heirs Holdings; MoMo PSB is MTN Nigeria’s fintech subsidiary.

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; they can also visit any UBA branch to make withdrawals and deposits from and into their MoMo accounts.

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

The partnership brings together Redtech’s payment technology and enablement capabilities, UBA’s merchant-acquiring and distribution layer, and MoMo PSB’s mobile money wallet ecosystem and customer base.

Redtech holds licences as a Payment Terminal Service Provider (PTSP) and Payment Solution Service Provider (PSSP) from the Central Bank of Nigeria, authorising it to provide both POS and payment gateway services.

Together, the three organisations are addressing a critical gap in Nigeria’s payments market – connecting banking-led merchant acceptance with telco-led mobile money wallets.

For MoMo PSB customers, Pay with MoMo increases the number of places where their wallets can be used for everyday payments. In the case of merchants, it opens access to a wider pool of customers and provides an additional payment option at the point of sale.

Kayode Olubiyi, UBA’s head, Digital Banking, who spoke during the launch, noted that this partnership represents the solution to the gap identified in cash transactions and card access.

“What this partnership represents is an honest and effective answer to the gap we identified in cash transactions and card access. 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 – and giving MoMo PSB customers more places to use their wallets when they shop. That is a clear win for both sides.”

Emmanuel Ojo, Redtech’s chief executive officer, emphasised that the partnership aims to make payments work better together in a way that is practical for everyday commerce.

“This partnership is about making payments work more seamlessly for everyday commerce and most importantly, It aligns with Africapitalism, as championed by Tony Elumelu, the chairman of Heirs Holdings. 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 any customer in Nigeria or across Africa because of their preferred payment method. By connecting our technology with MoMo PSB’s wallets through the UBA network, we are giving merchants and customers more options”

Ag. CEO, MoMo PSB, Omolara Michael-Nwadu, who highlighted the barriers to payment in the country, emphasised the importance of partnerships, explaining how integrating MoMo wallets into UBA’s merchant network through Redtech’s infrastructure will unlock additional merchant touchpoints.

“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. At MoMo PSB, we are building a more connected financial ecosystem where payments aren’t tied to platforms but to a seamless customer experience. At MoMo PSB, our focus is on simplifying payments, expanding access to financial services and helping more Nigerians do more every day. Pay with MoMo gives our customers more places to use their wallets, while supporting broader financial inclusion by bringing useful financial services closer to where people live, work and do business.”

Alero Ladipo, UBA’s group head, Brands, Marketing and Corporate Communications, captured the broader significance of the moment at the signing ceremony.

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

Pay with MoMo is being introduced through RedPay POS terminals already deployed within UBA’s merchant network. More than 55,000 RedPay POS terminals have been deployed across the network, with the platform having processed over ₦278.47 billion in transaction value and more than 12.23 million transactions to date.

Starting in Nigeria, Pay with MoMo is now live at participating UBA merchant locations, with plans to extend the rollout to selected African markets where both MoMo PSB and UBA operate.

This is over 100% year-on-year growth from ₦12 trillion in 2024, placing the company among the highest-volume processors in Nigeria.

The milestone was driven by strong growth across its payment platform, RedPay – including POS network, merchant collections, and digital payment channels.

Redtech helps businesses move money at scale through secure, reliable, and scalable systems that reduce payment failures, downtime, and reconciliation failures while meeting the compliance needs of enterprises and regulated sectors.

The milestone marks a decisive shift from capability building to operating at national scale, reflecting sustained trust in Redtech’s infrastructure under high-volume conditions, alongside consistent adoption across sectors.

Redtech attributes this growth to early investment in resilient payments infrastructure and continuous product development grounded in real business needs.

The payment stack supports high transaction concurrency, automated failover, and real-time settlement at scale, with redundant backend systems built to protect uptime during peak periods.

Compliance and reliability also act as growth enablers, supported by regulatory alignment, relevant certifications, and risk controls that reduce friction for large enterprises and regulated industries.

Continuous performance monitoring and data-driven optimisation have helped ensure growth does not outpace platform reliability. That operational rigour has supported partnerships and distribution at scale, including deeper integrations across banking and enterprise networks – expanding Redtech’s reach while maintaining performance consistency and platform control, and supporting merchant acquisition without compromising service quality.

Transaction volumes have been driven by a mix of SMEs, enterprise customers, and financial institutions across retail, hospitality, insurance, energy, public-sector-linked services, and banking.

That breadth highlights Redtech’s ability to support complex transaction flows, including batch processing, reconciliations, and always-on uptime across different sectors.

Emmanuel Ojo, CEO of Redtech, said,

“This milestone reflects trust from businesses that rely on us to collect and move money at scale, and from partners who expect reliability every single day. We have built Redtech around durability, strong governance, and regularity alignment, so SMEs, enterprises, and regulated clients can grow on our rails without worrying about downtime or friction. With that foundation in place, we are ready to take this approach into more African markets.”

Looking ahead, Redtech plans to expand beyond Nigeria into 29 African countries by January 2027, building towards an Africa-wide payments capability that can support businesses operating across borders, sectors, and payment types.

Founded in 2020, Redtech builds secure, reliable, and scalable technology across two core pillars – RedPay, its suite of payment solutions for businesses and consumers, and SITCOM, its integrated energy technology solutions for upstream oil and gas operators.