The newly launched multi benefit structure which offers partners a comprehensive value proposition, was unveiled at the inaugural UBA Aggregator Engagement Session, held at the Bank’s Head Office in Lagos on Tuesday.

The session themed, “POS-itive Impact: Connecting Agents, Merchants, and Customers,” served as a collaborative platform to align strategies for scaling the UBAMONI Agency Banking ecosystem and bringing together key industry aggregators, Point-of-Sale (POS) partners, and network managers,

Emmanuel Lamptey, UBA’s executive director designate, Digital Banking, who spoke at the event, emphasised the critical role partnerships play in achieving national financial inclusion objectives.

“Today’s session marks a pivotal step in our collective journey to democratise financial access in Nigeria. By bringing together our valued aggregators and partners, we are strengthening the ecosystem that connects UBA directly to communities and ensuring that reliable financial services is within everyone’s reach,” he stated.

Emphasising the need for partnerships, Shamsideen Fashola, UBA’s head, Digital Banking, who presented the keynote address, outlined the strategic imperative behind the new structure.

“Our aggregators are fundamental to realising our ambition of building Africa’s most impactful digital collections network. This structured framework is designed to be scalable, transparent, and mutually rewarding, empowering our partners with the technology and support needed to drive agent productivity as well as serve under-served communities effectively,” Fashola noted.

The platform delivers comprehensive value to agents and aggregators alike, featuring instant settlement, reliable transaction processing, real-time dashboard reporting, and a full suite of services including dispute and terminal management, analytics, card withdrawals, bill payments, and pay-with-transfer.

For aggregators specifically, the model provides a structured opportunity to on board and manage agents within UBA’s network, access attractive incentives and commissions, as well as leverage a dedicated Aggregator Admin Portal for real-time visibility into agent performance and transactions

Adetunji Iyiola, UBA’s head, Agency Banking, who noted the customer-centric focus of the initiative, emphasized that the structure fundamentally strengthens the collaboration between UBA, merchants, and agent

“This rollout is about creating superior value for every stakeholder, and enabling better service delivery to customers while ensuring our partners have the tools and incentives to thrive. It reinforces our promise to deliver essential banking services exactly where they are needed most”. he said.

With the introduction of the aggregator framework, UBA further cements its leadership in pioneering innovative digital financial solutions that bridge the inclusion gap and drive economic empowerment across the African continent.

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group-wide and serving over 45 million customers globally.

Operating in twenty African countries, the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.

Lately, if you’ve noticed a certain red glow across the corners of retail stores, restaurants, salon, supermarkets and many more places in your city, here is why: UBA has stepped back into the POS scene, and it’s doing so with style, speed, and something known as the foundation of relationships that can’t be faked, trust.

Point-of-Sale (POS) has now become the bedrock of everyday transactions. From small businesses to medium, down to franchises, POS is how most businesses keep the lights on, with more accurate sales reporting, which amounts to improved decision-making, identifying best-selling products, and better financial management. Fintechs saw the gap that existed in the payment space and ran with it.

Moniepoint, OPay, PalmPay and others flooded the market, becoming the panacea to issues presented by traditional modes of payment.

The United Bank for Africa (UBA) has now strategically entered this space with quiet confidence and has 46,000 new RedPay POS terminals to prove it, making it clear, being ranked strongest banking brand in the whole of Nigeria and 13th strongest in the world isn’t about catching up but setting new standards in the ever-dynamic world of technological invention.

Taking initiative as a true pace-setter, UBA’s POS isn’t just another payment terminal, it’s built to deliver real value. With its instant settlement feature, transactions don’t just go through, they land immediately in the merchant’s account.

No end-of-day delays, no need to chase balances. It’s the kind of speed and reliability that brings the best of e-payments together with the assurance of a trusted bank.

Alongside the rollout is the UBA MONI app, designed to give agents more control and flexibility. With just a smartphone, agents can onboard new customers, process transfers, handle deposits and withdrawals, and even register BVNs, making it possible to deliver premium banking services from virtually anywhere.

And while they’re at it, they earn. It’s efficient, mobile, and built with both agents and customers in mind.

In a world where data leads the conversation, report shows that POS terminals processed a staggering ₦18 trillion in 2024, which is a 69% leap from 2023’s ₦10.7 trillion.

Fintechs have undeniably driven much of that momentum, but now, the almost 76-year-old African financial powerhouse, UBA, is bringing fresh energy into the space, with the kind of infrastructure, trust, and scale only a legacy institution can offer.

This is to say that it is not just about having POS machines on every corner, it’s about giving merchants, business owners and agents the reliability they crave.

UBA isn’t just re-entering the game, it is redefining the rules, which is what happens when execution meets strategy in an institution that has stood the test of time.

So if you’re wondering why the cashier at your favourite mart is extending RedPay to you, just know that UBA PLC is back in the field and, this time, they’re not just playing the game. They’re rewriting the rules.