As part of efforts to boost trade and commerce in Nigeria, Union Bank has unveiled UnionPro, a proposition designed to provide tailored financial services and solutions to supermarkets and large retail chain stores. With UnionPro, large retailers can now access a single platform offering a wide bouquet of solutions to enrich their businesses and optimise their offerings. These solutions include agency banking; point-of-sale (POS) terminals; in-store ATM deployments; web payment gateways and access to Union360 – a secure web-based solution that offers an end-to-end single point for payments and collections. The retailers can also benefit from business loans such as overdrafts, short-term finance, distributor finance and invoice discounting finance. Through this innovative offering, Union Bank will strengthen its support for the Nigerian retail sector which continues to show promise despite harsh economic conditions.
According to AT Kearney’s Global Retail Development Index (GRDI), “the long-term prospects of Nigeria’s retail sector remain positive, supported by the budding middle class, the growing popularity of the formal retail space and the rapid rise of e-commerce.” Commenting on the launch of UnionPro, Union Bank’s Divisional Executive, Commercial Banking, Gloria Omereonye highlighted the key role of large retail stores and supermarkets in boosting the economy.