UBA Backs SMEs With E-Payment Solution

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In line with its commitment to support innovative ideas that drive economic growth especially through Small and Medium scale Enterprises (SMEs), the United Bank for Africa (UBA), is partnering with Netplus Advisory Limited to deploy an efficient and secured e-payment solution for U-Mall, a new e-commerce platform.

The U-Mall according to a statement from the bank is a revolutionary e-commerce platform that is designed to help SMEs set up own online stores to extend their reach and ultimately drive growth of their businesses.

Yinka Adedeji, Head, e-Banking, UBA, said that part of the key benefit of the U-Mall is the removal of entry barriers for SMEs looking for a wider market for their goods through an online platform.

“With U-Mall such SME’s can now sell their goods easily through their   U-Mall space. U-Mall also provides a secondary platform for SME’s to easily reach a higher number of potential customers while retaining their traditional trading platform,” Adedeji’s statement said.

“U-Mall leverages the web and mobile banking to provide an e-commerce platform that provides convenient shopping options for buyers and an easy way of selling and receiving revenues for the sellers. Even more, U-Mall is an open self-service platform that allows merchants to register their businesses by completing store registration and mobile money forms online.”  Adedeji explained.

According to Adedeji, U-Mall is not just a selling platform but also has the additional advantage of offering brand promotion for the sellers through its combined marketing strategy which promotes the platform as a whole and individual categories and stores.

Wole Faroun, Managing Director Netplus Advisory and Technical Partners, said while commenting on the platform:   “U-Mall is set to revolutionize e-commerce and it is an honour to have UBA, a bank that has led many innovations in electronic Banking as our Payment Partner.”