United Bank for Africa (UBA) has upgraded its point of sale (POS) terminals and revamped UBA MONI App, reported The National.
The move is aimed at facilitating business transactions and supporting the growth of small and medium-scale enterprises (SMEs) across Africa, the report said.
The rollout is part of the bank’s “Innovation for Progress” campaign, which focuses on empowering businesses and streamlining banking processes.
The enhanced POS terminals feature instant settlement, real-time monitoring, and pay-by-link functionalities to meet the needs of businesses of all sizes.
Simultaneously, the UBA MONI App has been updated to include new features such as instant settlement and pay-by-transfer options, alongside improved security measures like a secret question for user authentication.
The app’s user interface has been enhanced, with a redesigned homepage and an upgraded inbox system.
Despite these enhancements, the app maintains its fundamental services such as instant account opening using BVN/NIN, real-time transfers, and cash handling capabilities, as well as providing discounts on airtime and data purchases.
UBA Group Retail and Digital Banking head Shamsideen Fashola said: “The new UBA PoS and MONI App is designed to empower merchants and agency banking with instant settlements, real-time transaction tracking, and unmatched reliability – ensuring they can focus on growing their businesses with a trusted partner.
“This next-generation PoS is not just a payment device; it’s a powerful tool that helps businesses stay competitive in a fast-paced economy. With UBA’s extensive reach and robust infrastructure, we are bringing convenience and confidence to every transaction.
“With the upgraded MONI App, we are equally equipping our agents, many of whom serve smaller communities, with faster tools, greater transparency, and an enhanced user experience that will help them grow their businesses while serving millions of underserved customers.”
