Across Africa’s dynamic markets, reliable and instant financial transactions are critical to business success. For most traders, the United Bank for Africa (UBA) has emerged as a trusted partner, delivering seamless digital payment solutions through innovations like its upgraded PoS terminals and UBA Moni App. Chiemelie Ezeobi writes that with instant settlement, enhanced security, and user-friendly features, UBA is not only bridging the trust gap but also empowering small and medium-sized enterprises (SMEs) to grow and thrive in today’s digital economy
Alhaja Aminatu Bashiru is a trader in Lagos’ bustling Balogun Market, where she sells a vibrant array of fabrics. Like many small and medium-sized enterprises (SMEs), her financial health depends on seamless transactions and reliable infrastructure that ensures she receives payments the moment they are made.
Over the years, she has witnessed shifts in Nigeria’s financial landscape, with new players introducing flashy innovations, middlemen promising quick fixes, and bold assurances that often crumble under the weight of unmet expectations.
‘Every day, we get new people coming here, telling us to keep our money with them, promising unbelievable benefits. I don’t trust them as, more often than not, these things end in tears,’ she laments.
But with United Bank for Africa (UBA), a trusted financial institution with over 75 years of reliability, she has found a partner that has always innovated and kept its promises. UBA has continued to deliver cutting-edge technology, like its newly introduced instant settlement feature on its POS and revamped UBA Moni App, ensuring speed and security, which is leading a paradigm shift in a market where traditional banks are notorious for sluggish transactions.
Even when new fintechs deliver on immediate promises, past experiences keep her wary as she withdraws deposits quickly. The constant churn of new financial schemes leaves her struggling to keep up, and the growing trust deficit has left many traders like her caught in an ecosystem riddled with delays, broken promises, and fleeting innovations.
UBA’s solution has evolved into a vibrant hub for smooth digital transactions, now featuring a redesigned PoS Terminal and an upgraded UBA MONI App. The enhanced PoS Terminal offers exceptional performance, providing merchants with instant settlement, real-time tracking, pay-by-link options, and a 100% transaction success rate, enhancing speed, transparency, and reliability for businesses of all sizes.
On the other hand, the improved UBA MONI App enhances UBA’s agency banking services with new capabilities, including instant settlement, transfer-based payments, secret question verification, and a user-friendly design. It also retains key features like quick account creation, real-time money transfers, cash deposits and withdrawals, as well as discounted airtime and data. Together, these upgrades ensure a faster, more secure, and seamless experience for merchants, agents, and customers alike.
However, with UBA’s unwavering reliability, instant settlements, and security, traders like Alhaja Aminatu finally have a solution they can rely on.
For UBA PoS and MONI App, Instant Settlement is Everything
In Nigeria’s fast-paced markets, delayed transactions can mean lost sales and frustrated customers. UBA’s upgraded PoS terminal and MONI App tackle this head-on with instant settlement, ensuring merchants receive payments in real-time.
“Before, I’d wait hours, sometimes days, for transfers to clear,” says Sylvester Goodluck, an electronics dealer in Onitsha. “Now, with UBA’s PoS, the money hits my account before the customer leaves my shop. It’s feels so great.”
UBA’s Group Head, Retail and Digital Banking, Shamsideen Fashola, emphasises the transformative impact of these new improvements and upgrades on SME in the country
“The newly introduced Real-time settlement provides the much needed lifeline for businesses. By ensuring immediate access to funds, we’re empowering merchants to operate with confidence, reinvest quickly, and focus on growth rather than worrying about cash flow delays. This is how we drive financial inclusion and strengthen Nigeria’s digital economy.”
This is particularly critical for small businesses operating on thin margins, where cash flow delays can disrupt restocking and payroll. With the elimination of settlement lag, UBA has improved convenience and trust, which is a major barrier to digital payment adoption in Nigeria and Africa.
Fashola adds: “Our goal is to make digital payments seamless and reliable for every merchant, from market stalls to large retailers. When businesses thrive, the entire economy benefits, and UBA is proud to lead that change and charge.”
Trust is the Currency of Digital Finance
Trust is the cornerstone of UBA’s strategy. While fintech startups often struggle with credibility among older merchants and even younger ones, UBA leverages its over seven-decade reputation to reassure wary traders.
“I don’t trust these new apps, but I know UBA,” says Alhaja Aminatu. “Immediately I was informed about their new PoS and Moni app, I had to get it real quick. Their new PoS doesn’t fail, and their agents are always available to help, they are like children and family to me.”
This trust is further enhanced by real-time transaction monitoring, providing merchants with full visibility over payments. Unlike opaque third-party platforms, UBA’s system provides instant notifications and failsafe reconciliations, which are key for businesses keeping daily ledgers.
Fashola explains further: “Trust isn’t built overnight as it is earned through consistency, reliability, and transparency. UBA’s long-standing presence in Nigeria means merchants see us as more than a service provider, but as a partner they can depend on.
“For many SMEs, especially in traditional markets, trust is just as important as functionality. That’s why we combine cutting-edge technology with the human touch,agents on the ground, responsive customer service, and complete transparency in every transaction. When a merchant knows their funds are secure and their issues will be resolved, they’re far more likely to embrace digital payments fully.”
Pay by Transfer
Recognising that not everyone carries a bank card, UBA’s Moni App has introduced a new pay-by-transfer feature, enabling customers to make payments directly from their mobile banking apps with ease. This move aligns with UBA Moni’s goal to bring more people, especially the financially excluded, into the banking system by working with local agents who understand and speak the language of their communities.
“Many of my customers don’t own physical cards,” says Chinedu Okeke, a UBA Moni agent. “Now they just show me their transfer confirmation, and I get the alert instantly. It’s fast, secure, and there are no more arguments about whether payment was made.”
Fashola, UBA’s Head of Digital Banking, adds, “Financial inclusion is about meeting customers where they are. While cards are still relevant, we know that millions of Nigerians prefer to transfer directly from their bank accounts. With UBA Moni’s pay-by-transfer option, we’re streamlining the payment process while still delivering the trusted security UBA is known for.”
Transparent Processing Fees
Hidden charges and unclear pricing have long been a major pain point for merchants and small businesses. Many traders have complained about unexpected deductions and fluctuating charges from payment providers, which cut into already tight profit margins.
UBA tackles this challenge head-on with clear, upfront pricing and zero hidden charges. Merchants know exactly which fee applies to each transaction type, whether it is card payments, transfers, or other methods.
“We believe fairness is non-negotiable in digital payments. Our merchants deserve to know exactly what a transaction costs, no fine print, no last-minute surprises. This is how we empower businesses to grow sustainably.” Fashola added.
Improved and Better Security
Fraud remains a top concern for Nigerian merchants. UBA’s upgraded terminals integrate advanced encryption and multi-factor authentication, while the MONI App adds secret question verification for high-value transactions.
UBA has been at the forefront of combating fraud in Nigeria’s banking sector, thanks to its significant investments in security and its transparent approach to tackling the menace. The bank continually upgrades its services with advanced features designed to help merchants mitigate fraud, particularly incidents stemming from fake alerts and poor network connectivity.
“Last year, a fake customer charged back ₦150,000 after paying,” recalls Chinedu Okeke. “With UBA’s new security features, I can verify every transaction before the customer leaves my shop.”
The system also flags suspicious activity in real-time, a critical safeguard in a market where chargeback scams cost businesses billions annually.
Conclusion
UBA’s newly upgraded POS and MONI app is designed to offer solutions to the core issues that merchants contend with daily, such as instant settlements that eliminate cash flow stagnation or robust security features that combat fraud. UBA is at the forefront of establishing new benchmarks for dependability in digital payments
With a blend of cutting-edge technology and a reputation spanning decades of being reliable and dependable, UBA is filling the gap between conventional banking and contemporary fintech to make it possible for even the most cautious merchants to adopt digital payments with ease”
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