UBA partners MFS Africa on innovative payment solutions

The United Bank for Africa Plc and MFS Africa have entered into a partnership that will enable both institutions offer innovative and timely solutions to a wide range of customers, especially in the area of remittances, electronic money services and SME payments.

According to a statement, both financial institutions signed an MoU at the UBA Head Office in Lagos, which marked the beginning of a partnership that would be essential in leveraging MFS Africa’s digital payment hub that connects over  400 million mobile money users to a wide range of partners including Mobile Money Operators, Money Transfer Organisations, Fintechs, Enterprise Merchants, and others, to drive the distribution of financial services at scale.

According to the Group Deputy Managing Director of UBA, Muyiwa Akinyemi, the partnership would help to boost an array of services which would include a centralised payment hub that enables cross-border payments across multiple rails through a single integration; Inbound and outbound cross border remittances; SME payments digitisation; Domestic and cross border corporate disbursements.

Source: UBA partners MFS Africa on innovative payment solutions – StocksWatch (stocksng.com)

Your Comment:

Related Posts

30

Sep
Business & Economy

Capital Hotels sells 51% of its shares to 22 Hospitality Ltd

Capital Hotels Plc has notified its Shareholders and other Stakeholders that 22 Hospitality Ltd has successfully acquired 1,611,995,510 Ordinary Shares of 50 kobo each representing 51% of the equity share capital of the Company through Private Placement. All the required regulatory approvals have been received for the transaction. In addition, 22 Hospitality Limited also bought 456,641,337, and […]

Business & Economy

Union Bank partners Wacot Rice Limited to empower local farmers

In a bid to aid the financial inclusion drive of farmers in Kebbi State, Union Bank has entered into partnership with Wacot Rice Limited, a rice processing company. According to the bank the partnership is aimed to financially include 6,000 local farmers. This will include the youths and women in Kebbi State.  “The Kebbi Financial Inclusion Drive[…]