UBA Advances Digital Banking Platforms to Ease Payment Across Africa

Recently, United Bank for Africa  Plc upgraded its  Point of Sale terminal as well as the UBA MONI App  to provide convenient, fast, and secure services to its customers across Africa and beyond, writes  Kayode Tokede

UBA recently unveiled its vastly improved Point of Sale (POS) terminal as well as the UBA MONI App.  The move by the financial institution is aimed at redefining the digital payment landscape that comes with ease of transaction and secure services to its over 45 million customers globally.
Also, it is meant to  empower Small and Medium scale Enterprises (SMEs) and drive its seamless banking operations.

The POS and MONI App  upgraded platforms,  according to the bank, is part of its ongoing campaign with the theme: Innovation for Progress: Empowering SMEs, Connecting Communities, Simplifying Banking.
The newly improved POS, which provides customers efficiency and ease in transacting their businesses, boasts exciting features designed to boost efficiency, transparency and trust for merchants; including instant settlement, real-time monitoring, pay-by-link functionality, and a 100per cent transaction success rate.

With the new service, customers can enjoy flexibility, as the terminals have been equipped to serve businesses of all sizes, providing the speed, reliability and fast-paced services demanded by today’s merchants.
The UBA MONI App, which is designed to further strengthen financial institution’s  agency banking network, has also been modified with new features.  The features include: instant settlement; pay-by-transfer options; secret question security; an enhanced inbox, and a redesigned homepage—offering agents and customers an even more intuitive and secure experience.
This is in addition to its core features of instant account opening with BVN/NIN, real-time transfers, cash deposits and withdrawals, airtime/data payments with agent discounts, and instant POS deployment remains at the heart of the app.

POS, MONI App  upgrade Necessity
Amid expansion in business frontier, the POS and MONI App   upgrade was necessary to enhance security, improved transaction speed and  reliability, integration with digital banking ecosystem and support for new payment channels.
The POS terminals now work seamlessly with UBA’s digital banking platforms (e.g mobile app, internet banking and Leo chatbot).  
UBA has one of the largest distribution networks in Africa.  As at 2024,  there were over 1,000  branches and customer touch points across Africa.  2,669 Automated Teller Machines (ATMs) and over 430,00 POS machines fully deployed. In the same year, it had over 32.6 million digital banking customers with 5.8 million Leo users.  

In addition, UBA as of 2024 declared   over 21.2 million active cards issued. Same year, the financial institution recorded a double-digit growth in key transactional income lines reflective of the bank’s enhanced offering and robust digital banking play.
E-banking income of N236.3billion in 2024 from N125.57 billion in 2023  accounts for 40 per cent of the total fees and commission income, underpinned by our sustained emphasis on  technology-led innovation and best customer experience.

The group  noted that its investments in state-of-the-art technology continue to yield expected results, evident in the huge boost of its digital banking income, which grew 91.9per cent year-on-year to N253.0 billion in 2024.
“These gains have enabled us to optimize net earnings amid the accelerating inflationary  pressure, currency devaluation, and increased regulatory-induced cost. Digital banking adoption continues to drive our digital banking transaction volumes and revenues,” it explained in 2024 investors & analysts presentation.

Other UBA’s digital channels include: UBA Mobile Banking App that enables transfers, bill payments, airtime purchase, card management, account monitoring; UBA Internet Banking that ease local and international transfers; UBA Leo (Chat Banking), an AI-powered virtual banker available on: WhatsApp,Facebook Messenger and Apple Business Chat and UBA USSD Code – *919#.
The group also has UBA Pay with QR / mPOS, a scan-to-pay via the UBA Mobile App or third-party wallets. The QR also offers mini POS for small businesses.

In addition, UBA Payment Gateway / e-BillsPay targeted merchants and businesses to receive payments online.
The Group Managing Director & CEO, UBA, Mr. Oliver Alawuba, has played a central role in shaping and accelerating financial institution’s digital transformation across its platforms. His leadership is driving innovation and delivering value for customers and the bank through aggressive digital investment, among others.
Alawuba, over the time, emphasised that UBA has “invested so much in digital banking,” now handling roughly 90 per cent of all transactions digitally, with a target to reach 95per cent soon.
Under Alawuba’s leadership, UBA has launched improvements to its mobile app and introduced chatbot banking—Pioneering solutions in Nigerian banking
He reframed “complaints” as vital feedback, and strengthened UBA’s Customer Fulfilment Centre to address issues promptly and refine digital services.

UBA’s digital platform supports operations in 20 African countries, contributing over half of its profitability
While expanding into France and Saudi Arabia, Alawuba stressed that digital banking is critical for delivering services across such diverse markets
Alawuba had highlighted that digital transformation enables UBA to manage operating costs, enhance fraud prevention, and deliver better service reliability. His vision is not just transactional but transformational: positioning UBA as Africa’s premier digitally-enabled, pan-African bank, with continued global expansion to follow.

Benefits of the Modified Platforms
UBA’s Group Head, Retail and Digital Banking, Shamsideen Fashola, said that as a forward-thinking financial institution, UBA is always on the look-out for modern ways to improve their services and offerings, to give customers top-notch experiences while conducting their daily businesses.
He said: “At UBA, we are constantly innovating to provide seamless and secure payment solutions for businesses of all sizes. 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.”

Continuing, he said: “This next-generation POS is not just a payment device; it’s a powerful tool that helps businesses stay competitive in a fast-paced economy. With UBA’s extensive reach and robust infrastructure, we are bringing convenience and confidence to every transaction. With the upgraded MONI App, we are equally equipping our agents, many of whom serve smaller communities, with faster tools, greater transparency, and an  enhanced user experience that will help them grow their businesses while serving millions of underserved customers.”
Fashola explained that the bank’s continued investment in digital infrastructure aligns with its broader commitment to supporting African businesses through technology-driven banking solutions that deliver value, scalability, and trust.

UBA’s Group Head, Marketing and Corporate Communication, Alero Ladipo, emphasised the bank’s unwavering commitment to delivering innovative solutions that meet the evolving needs of its customers.
“We understand that speed, transparency, and reliability are critical for business growth, and that’s exactly what the new UBA POS and Moni App deliver. At UBA, we are not just providing a payment device, we are offering a promise of efficiency, trust, and support to the thousands of businesses that rely on us daily. This solution is a testament to our dedication to helping our customers thrive in today’s digital economy,” she noted.
She called on merchants, agent banking partners and business owners to experience the myriad of offerings available by visiting any UBA branch nationwide or through the bank’s website.