UBA Revamps Agency, Merchant Banking with New Aggregator Structure for RedPay Terminals

L–R: Head, POS Services & Web Payments, UBA, Gbolabo Cole; Head, Digital Banking, UBA Africa 2, Olukayode Olubiyi; Executive Director Designate, Digital Banking, UBA, Emmanuel Lamptey; Technical Assistant to ED Digital Banking, UBA, Oghenemaro Umukoro; Head, Retail & Digital Banking, UBA, Shamsideen Fashola; and Head, Agency Banking, UBA, Iyiola Adetunji, at the inaugural UBA Aggregator Engagement Session themed, “POS-itive Impact: Connecting Agents, Merchants, and Customers,” held at the bank’s head office in Lagos. 

Africa’s Global Bank, United Bank for Africa (UBA) Plc, has unveiled a new Aggregator Sales Structure for its RedPay Point-of-Sale (POS) terminals and Agency Banking network, in a bold move to deepen partnerships and accelerate financial inclusion across Nigeria.

The multi-benefit framework was launched at the inaugural UBA Aggregator Engagement Session held at the bank’s head office in Lagos on Tuesday. Themed “POS-itive Impact: Connecting Agents, Merchants, and Customers,” the session brought together key industry aggregators, POS partners, and network managers to align strategies for scaling the UBAMONI Agency Banking ecosystem.

Speaking at the event, Executive Director Designate, Digital Banking, UBA, Emmanuel Lamptey, described the initiative as a critical milestone in expanding financial access nationwide.

“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 are within everyone’s reach,” Lamptey said.

Delivering the keynote address, Head, Retail & Digital Banking, UBA, Shamsideen Fashola, emphasised that the new structure was designed to be scalable, transparent, and mutually rewarding.

“Our aggregators are fundamental to realising our ambition of building Africa’s most impactful digital collections network. This structured framework empowers our partners with the technology and support needed to drive agent productivity and serve under-served communities effectively,” he noted.

The enhanced platform offers instant settlement, reliable transaction processing, real-time dashboard reporting, and a comprehensive suite of services including dispute and terminal management, analytics, card withdrawals, bill payments, and pay-with-transfer options.

For aggregators, the model provides structured onboarding and management of agents within UBA’s network, access to attractive incentives and commissions, and a dedicated Aggregator Admin Portal for real-time visibility into agent performance and transactions.

Head, Agency Banking, UBA, Iyiola Adetunji, underscored the customer-centric focus of the initiative, stating that it strengthens collaboration between the bank, merchants, and agents.

“This rollout is about creating superior value for every stakeholder, 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 reinforces its leadership in innovative digital financial solutions aimed at bridging the inclusion gap and driving economic empowerment across Africa.

United Bank for Africa is one of the continent’s largest employers in the financial sector, with 25,000 employees and over 45 million customers globally. The bank operates in 20 African countries, as well as the United Kingdom, the United States, France, and the United Arab Emirates, offering retail, commercial, and institutional banking services.