Monrovia, Liberia--(Newsfile Corp. - May 3, 2023) - United Bank for Africa - Liberia (UBAL) and Hammer Technology Holdings (OTCQB: HMMR) have announced a partnership to introduce a mobile phone and web portal driven digital e-wallet service within the UBA products market in Liberia, West Africa.
The partnership will see the deployment of the HammerPay Remittance Service Deliver Platform (RSDP) under the brand name UBA Remit as a digital platform to be utilized for its unified FinTech capabilities.
The UBA Remit digital e-wallet service will be first available in Liberia, with the launch of its first batch of products: UBA Remit Wallet - Personal; and UBA Remit Wallet - Merchant. The Apps for these products were released to the Google Play and Apple App Stores, on March 10th, 2023. The apps will be fully deployed across Liberia to banked and unbanked customers alike.
With the rollout, users including customers and non-customers will enjoy the convenience of cashless transactions under one financial umbrella. Coming June 2023, users will be able to link their wallets to their UBA accounts and transfer monies across platforms, request money, perform cash-in and cash-out services, and also scan to pay with generated QR codes for transactions at approved UBA merchants.
The Managing Director/Chief Executive Officer for UBA Liberia, Mr. Ayokunle Olajubu, who spoke on the digital e-wallet service, said, "This is excellent timing, especially for a market that is full of opportunities for innovation. We are very excited to launch our own UBA digital e-wallet, and merchant transaction Fintech service in collaboration with HammerPay to strongly compete in the market."
Continuing, he said, "the service will provide a real opportunity for our customers to conduct and experience easy, affordable, and secured transactions in push / pull bank to wallet and wallet to bank services; as well as both merchant and peer to peer transactions. We expect our partnership with HammerPay will see us continue to grow our merchant base and consumer base across Liberia and will further position us in leading and transforming the market towards building a more financially inclusive, digitized, and cashless society," Olajubu said.
UBA's Group General Manager, Retail, Digital, & Transaction Banking, Sampson Aneke, said the partnership with HammerPay is in line with the bank's vision to be Africa's Global Bank and gives the bank an edge towards realizing its goal of digital dominance across Africa. "What we are doing is distinct from what others are doing; that is to provide the best value for our customers and for the unbanked market and SME's through more interactive and more user-friendly interfaces. These interfaces will give customers in Liberia access to banking anywhere, everywhere, anytime and our aim is to establish digital dominance across Africa," Aneke stated.
Speaking on behalf of the partnership, the President and Chief Executive Officer of HammerPay (USA) Ltd, Gerald Sherman said that the aim is to lay out a digital ecosystem - beginning with the UBA e-wallet. He explained that the new UBA wallet will afford customers and non-customers of the bank the means to conduct banking transactions and meet their banking needs all under one umbrella. The Executive Chairman of Hammer Technology Holdings, Michael Cothill, expressed confidence in the partnership's potential to promote financial inclusion not only in Africa but also globally.
About UBA
United Bank for Africa Plc (UBA) is a Multinational Pan-African financial services group headquartered in Lagos, Nigeria known as Africa's Global Bank. It has subsidiaries in 20 African countries and offices in London, Paris and New York. In December 2021, UBA received its banking license to commence operations in the UAE. It is listed as a commercial bank by the Central Bank of Nigeria. The shares of stock of the group are listed on the Nigerian Stock Exchange where they trade under the symbol: UBA.
About HammerPay
HammerPay (USA) Ltd, a wholly owned subsidiary and brand operated by Hammer Technology Holdings, is a mobile-first digital technology product, powering stored-value digital services for businesses and consumers, including those previously left outside the digital revolution. HammerPay was developed to scale a highly attractive digital cash/cashless solution to be deployed along with partners around the world, delivering expertise for both developed and developing economies. HammerPay connects mobile consumers to cashless purchasing and bill payments, instantly enabling consumer broad adoption. For more information, contact Investor Relations at [email protected].
About Hammer
Hammer Technology Holdings ("Hammer Fiber Optics Holdings Corp.") (OTCQB: HMMR) is a company investing in the future of technology. Hammer has broadened its strategy to focus on the rapidly evolving world of innovative technology and in an effort to keep pace, has restructured the group to allow for the creation of several related verticals. In addition to its "Everything Wireless" strategy which includes the deployment of high-speed fixed wireless service for residential and small business, Hammer has entered the Fintech industry which is rapidly becoming the mainstream technology powering today's telecommunication applications. For more information contact Investor Relations at [email protected].
For media contact and inquiries:
Mr. Goanbei Zeyoe
UBA Liberia
Broad/Nelson Street, Monrovia
Phone: +231 880 560 509 / +231 881 968 559
Email: [email protected]
HammerPay - USA
6151 Lake Osprey Drive, Sarasota, Florida 34240
Phone: +1 941 306 3019
Email: [email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/164620
