First Bank of Nigeria Limited, a premier financial institution and a leading provider of financial inclusion services in West Africa, has officially rolled out its new FirstMonie Merchant Solution.
The innovative platform is designed to empower merchants and businesses across Nigeria to accept digital payments seamlessly and efficiently, marking a significant step forward in the country's digital economy.
The FirstMonie Merchant Solution directly addresses the growing demand for reliable digital payment systems. It offers an array of advanced features, including a streamlined and automated onboarding process and an integrated referral system.
The solution also comes with a suite of customisable tools such as 'Pay with Transfer' and 'Purchase' functionalities.
Additionally, merchants can benefit from instant settlement, flexible pricing, automatic terminal registration, and a comprehensive product suite that caters to various pricing tiers.
The platform is equipped with pre-configured, ready-to-use Point-of-Sale (POS) terminals and a network dashboard that provides real-time monitoring, dispute resolution, and complaint management.
These features are designed to enhance the merchant experience by improving liquidity, ensuring accuracy, and providing greater operational control, all while significantly reducing chargebacks.
Chuma Ezirim, Group Executive, E-Business and Retail Products at FirstBank, shared his enthusiasm for the launch.
"The FirstMonie Merchant Solution is poised to transform digital payments in Nigeria
"With its advanced features and seamless onboarding, we are empowering businesses of all sizes and locations to not only survive but thrive in the digital economy," Ezirim stated.
Ezirim further explained that the new solution is about more than just a product launch; it is about enhancing the operational efficiency of Nigeria's entire payments industry.
"We are simplifying payment processes and providing merchants with improved transparency, control, and speed for their daily transactions.
"At FirstBank, our commitment remains steadfast in building financial ecosystems that offer value, convenience, and trust to all stakeholders," he said.
Both new and existing FirstBank account holders can easily access the FirstMonie Merchant Solution by completing a straightforward online registration at the bank's website.
By leveraging its established technological infrastructure, FirstBank demonstrates its unwavering commitment to fostering growth and financial inclusion.
The solution is scalable, reliable, and user-friendly, tailored to meet the evolving needs of Nigerian enterprises.
Beyond its core function of enabling seamless digital payments, the FirstMonie Merchant Solution reinforces FirstBank’s dedication to the security of merchant funds, a critical assurance that many contemporary Fintech alternatives often do not provide.
With a rich history spanning 131 years, FirstBank continues to be a pioneer in African banking.
The introduction of the FirstMonie Merchant Solution reaffirms the bank’s leadership in digital banking and its mission to broaden access to financial services nationwide.
Supported by an extensive network of over 300,000 FirstMonie agents, FirstBank remains at the forefront of providing accessible and innovative financial solutions for individuals and businesses across Nigeria.
As a leading financial institution, FirstBank's footprint extends across Africa, Europe, and Asia, with subsidiary banks and representative offices in key locations globally.
The bank has a long-standing reputation for strong corporate governance, a robust liquidity position, and a commitment to digital transformation.
It has issued over 13 million cards and has more than 25 million active customers on its digital channels.
The bank's impressive track record includes numerous accolades, such as being named "Most Valuable Bank Brand in Nigeria" and "Best Retail Bank in Nigeria" multiple times by prestigious international publications.
Its commitment to diversity is reflected in its workforce and its membership in the UN Women's Women Empowerment Principles (WEPs).
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