The uba marketplace is a secured online marketplace which allows both small and medium scale businesses to have an online store where they can be able to sell and advertise their services or products. It is managed and owned by the United Bank of Africa which is one of the leading financial institutions found in Nigeria with about 12 million customers operating on it.
The UBA marketplace gives businesses a personalized eCommerce website which offers their own unique store name in order to showcase their goods and service online whereby reaching potential customers outside their primary physical address.
Also, there are different ways of selling your products and services on the uba marketplace such as offering deals or listing as an auction and listing on the marketplace. The features found on the eCommerce website are products like groceries, electronics, household items, health and beauty, fashion, perfume, jewelry e.t.c.
Why Sell products on UBA Marketplace
- It helps to reach a wider audience: Internet penetration continues to rise high and also online shoppers and internet users. In September 2018, there were about 105.98 million internet users in Nigeria, and this account for 58.9% of the total population approximately.
- The Effective cost: The UBA Marketplace gives an effective, low-cost channel for SMEs in Nigeria which helps to drive sales online via the new customer acquisition.
- It Leverages on the support of a trusted bank with the sum of about 12 million customers which operate with it.
- It helps you Create your store URL for you to be able to share with your customers. For example, James.ubamarketplace.com whereby “James” is the name of the store.
- It helps you automatically post your products on Facebook and also assist to sell them from your business page. Whereas there are about 16 million Nigerians which operates on Facebook.
- It Secures your transaction by using one of the highest Secure Socket Layer Encryption on the website with a payment gateway which is called Payment Card Industry Data Security Standard ( PCI DSS ) compliant.
- The Logistics is being managed by DHL.
Also, read about Marketing with Facebook Marketplace
How to sign up in the UBA marketplace as a merchant
- Go to the UBA marketplace home page.
- Tap on the register as a seller and fill out all the detailed information that is needed for your merchant account.
- Tap on the created account and you are good to go.
Also, after signing up for the merchant account, there are some things that you will need to take note of in order to complete your request.
- The admin will review your request.
- Check and approved if the information that is provided is correct.
- Afterward, you will now have access to your back-end and will now be able to upload your items and products and submit them for approval by the UBA marketplace admin.
The merchant pricing:
- To set up a merchant account is totally free.
- There is no annual fee charged.
- Per sale, the standard merchant service charges just 2%.
- No annual fee is charged.
- The set up is absolutely free.
The merchant receives a weekly settlement.
How Orders are placed and settled
- The Buyers log in to the homepage or the seller’s web store on UBA Marketplace.
- Choose the products and add them to the cart.
- Check the products out and pays with an account number or a valid credit card.
- The payment is being made to UBA Marketplace holding account.
Note that the Sellers account is settled weekly. And all completed transactions will attract a transaction fee of 2%.