UBA upgrades agency and merchant banking services

United Bank for Africa Plc has rolled out a new Aggregator Sales Structure for its RedPay POS and Agency Banking Network, a move aimed at deepening partnerships and expanding financial inclusion across Nigeria.

The multi-benefit structure was unveiled at the maiden UBA Aggregator Engagement Session held on Tuesday at the bank’s headquarters in Lagos. The event, themed “POS-itive Impact: Connecting Agents, Merchants, and Customers,” provided a collaborative forum for aligning strategies to scale the UBAMONI Agency Banking ecosystem, bringing together key aggregators, POS partners and network managers.

Speaking at the session, UBA’s Executive Director Designate, Digital Banking, Emmanuel Lamptey, described the initiative as a major step toward widening access to financial services. He said the engagement reinforced the bank’s commitment to working closely with aggregators and partners to strengthen the ecosystem that connects UBA to communities and ensures dependable banking services are accessible to more Nigerians.

Delivering the keynote address, UBA’s Head of Digital Banking, Shamsideen Fashola, underscored the strategic importance of partnerships in achieving the bank’s digital ambitions. He explained that the new framework is designed to be scalable, transparent and mutually beneficial, equipping partners with the technology and support needed to boost agent productivity and effectively serve underserved communities.

UBA noted that the platform offers significant value to both agents and aggregators, including instant settlements, reliable transaction processing, real-time dashboard reporting and a wide range of services such as dispute and terminal management, analytics, card withdrawals, bill payments and pay-with-transfer options. For aggregators, the model enables structured onboarding and management of agents, access to competitive incentives and commissions, and real-time insights through a dedicated Aggregator Admin Portal.

Also speaking, UBA’s Head of Agency Banking, Adetunji Iyiola, said the new structure enhances collaboration among the bank, its merchants and agents, while improving customer service delivery. He added that the initiative provides partners with the tools and incentives needed to succeed, while ensuring banking services reach communities where they are most needed.

With the introduction of the aggregator framework, UBA strengthens its position as a leader in digital financial innovation, focused on closing the inclusion gap and supporting economic empowerment across Africa.