Onome Amuge
United Bank for Africa (UBA) Plc, renowned as Africa’s Global Bank, has unveiled upgrades to its digital payment infrastructure, launching a revamped Point of Sale (POS) terminal and an enhanced UBA MONI App. The move underscores the lender’s ambition to reshape the digital payments landscape across the continent and provide crucial support to small and medium-scale enterprises (SMEs).
The platform upgrades are central to UBA’s ongoing Innovation for Progress campaign, which emphasises empowering SMEs, connecting communities, and simplifying banking processes.
The newly enhanced POS terminal promises greater efficiency and ease of transacting for businesses. Key features include instant settlement for merchants, real-time transaction monitoring, a convenient pay-by-link functionality, and a claimed 100 percent transaction success rate. UBA highlights the terminal’s adaptability to businesses of all sizes, offering the speed and reliability demanded in today’s fast-paced commercial environment.
Simultaneously, the UBA MONI App, designed to strengthen the bank’s agency banking network, has been modified. New features include instant settlement for agents, pay-by-transfer options, enhanced security through a secret question, an improved inbox, and a redesigned, more intuitive homepage. These additions complement the app’s core functionalities, such as instant account opening via BVN/NIN, real-time transfers, cash deposits and withdrawals, airtime and data payments with agent discounts, and rapid POS deployment.
Shamsideen Fashola, UBA’s group head of retail and digital banking, highlighted the bank’s commitment to continuous innovation. “At UBA, we are constantly innovating to provide seamless and secure payment solutions for businesses of all sizes,” he stated.
Fashola added that the new UBA PoS and MONI App are designed to empower merchants and agency banking with instant settlements, real-time transaction tracking, and unmatched reliability – ensuring they can focus on growing their businesses with a trusted partner.
Fashola further described the upgraded POS terminal as a powerful tool that helps businesses stay competitive in a fast-paced economy, leveraging UBA’s extensive network and infrastructure to deliver convenience and confidence to transactions.
Regarding the MONI App enhancements, he noted the aim to equip agents, particularly those serving smaller communities, with faster tools, greater transparency, and an improved user experience to facilitate their growth and better serve underserved customers.
