United Bank for Africa (UBA) has launched an upgraded version of its Point of Sale (PoS) terminal designed to enhance digital payment efficiency and support small and medium-sized enterprises (SMEs) across its operating markets.
The latest upgrade includes new features such as instant settlement, real-time transaction monitoring, and pay-by-link functionality aimed at improving transparency and operational efficiency for merchants.
The announcement was made as part of UBA’s ongoing innovation campaign titled Innovation for Progress: Empowering SMEs, Connecting Communities, Simplifying Banking.
The campaign reinforces the bank’s commitment to providing technology-driven solutions that facilitate business growth and deepen financial inclusion.
According to UBA, the next-generation PoS has been engineered to serve businesses of all sizes by offering improved reliability and faster payment processing.
The upgraded terminals promise a 100 percent transaction success rate and enhanced user experience tailored to the evolving needs of modern-day merchants.
Speaking on the development, UBA’s Group Head of Retail and Digital Banking, Shamsideen Fashola, said the bank is continuously investing in technology to deliver top-tier payment infrastructure across its channels.
“At UBA, we are constantly innovating to provide seamless and secure payment solutions for businesses of all sizes. The new UBA PoS is not just a payment device. It is a powerful tool designed to help merchants remain competitive in a fast-paced economy. With features such as instant settlement and real-time tracking, we are bringing confidence and convenience to every transaction,” Fashola stated.
The enhanced PoS solution complements UBA’s agency banking network which has seen increasing adoption through the UBA MONI App.
While the PoS caters to in-person transactions for merchants, the MONI App enables agents to perform various banking services in underserved communities.
In addition to its new capabilities, the upgraded PoS platform integrates with digital tools for flexible payment acceptance, including card payments, QR codes, and links sent directly to customers.
This allows businesses to diversify their payment channels and access funds without delays.
The bank noted that the initiative aligns with its broader digital strategy to simplify banking services and extend the benefits of formal financial systems to micro, small and medium-sized enterprises across Africa.
With a presence in 20 African countries and offices in the United Kingdom, France, and the UAE, UBA continues to deploy innovative platforms that support its customers’ banking needs in real-time.
The latest launch is expected to deepen customer engagement and provide merchants with the tools required to manage and grow their businesses efficiently.
