UBA Zambia Launches Mobile Money on POS to Drive Cash-Lite Economy
UBA Zambia has unveiled a landmark innovation that integrates mobile money with Point-of-Sale (POS) machines, marking a major step toward a digitally inclusive and cash-lite economy.
Speaking on behalf of Ministry of Technology and Science Permanent Secretary, Eng Dr Brilliant Habeenzu, Director of Digital Communications Mr Nkula Mwanza commended UBA Zambia for its role in driving financial innovation. Since opening in January 2010, the bank has expanded to nine branches across four provinces, introducing solutions such as prepaid cards, the UBA cashless account, Africash for cross-border transfers, and LEO, its AI-powered banker. These innovations have earned UBA Zambia the Banker’s Magazine Bank of the Year – Zambia Award in 2020, 2021, 2022, 2024, and 2025.
The new service will allow customers to make payments directly from their mobile money wallets on UBA POS machines at supermarkets, filling stations, schools, hospitals, hotels, and other outlets. SMEs are expected to benefit significantly through affordable digital payment infrastructure, faster settlements, and the ability to accept multiple payment methods, including mobile money.
“This initiative bridges the gap between the formal financial system and the informal sector,” Mr Mwanza said. “It will strengthen financial inclusion, empower SMEs, and support Zambia’s transition towards a cash-lite economy.”
UBA Zambia Managing Director and CEO, Mr Chinedu Obeta, described the launch as more than just a product unveiling. “This is the future of payments in Zambia,” he said. “By connecting banking and mobile money, we are making financial inclusion a reality for millions who use mobile wallets but lack bank accounts.”
UBA, a pan-African banking group with more than 75 years of history and operations in 20 African countries as well as the UK, France, UAE, and USA, reaffirmed its commitment to combining global expertise with local insight to deliver solutions that meet everyday needs.
The launch reflects UBA Zambia’s continued investment in digital infrastructure and aligns with government priorities under the Digital Transformation Agenda, reinforcing the role of public-private partnerships in building a resilient financial ecosystem.
Officials hailed the development as a milestone for Zambia’s financial sector, with the potential to transform business operations, enhance transparency, and expand access to financial services nationwide.
