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.