FirstBank Introduces Digital Solutions for Cross-Border Payments, MSME Growth, Gadget Financing

 FirstBank Introduces Digital Solutions for Cross-Border Payments, MSME Growth, Gadget Financing

By Tope Bankole

First Bank of Nigeria Limited has unveiled a range of digital financial solutions aimed at simplifying cross-border payments, strengthening business operations and providing customers with flexible access to technology and lifestyle products.

The new offerings, targeted at individuals, Micro, Small and Medium Enterprises (MSMEs), merchants and technology-driven consumers, comprise the Pan-African Payment and Settlement System (PAPSS) integration on FirstMobile, FirstChekOut and FirstEase.

Through the integration of PAPSS into its FirstMobile application, FirstBank is providing customers with the opportunity to transfer funds from their naira accounts to beneficiaries in other African countries, including Ghana, Kenya, Liberia and The Gambia.

The service is designed to facilitate seamless cross-border transactions while eliminating the need for customers to visit physical banking branches to initiate transfers.

The development is expected to improve the convenience of financial transactions across African markets and support the growing demand for accessible regional payment systems.

In another initiative targeted at supporting business growth, the bank has introduced FirstChekOut, a digital payment solution designed to enhance electronic payment processing for MSMEs, merchants, aggregators and payment facilitators.

The platform provides businesses with payment infrastructure to facilitate secure and efficient online transactions, potentially improving customer experience and supporting the expansion of e-commerce activities.

Interested businesses can register through the FirstChekOut portal at firstchekout.com or contact the bank through its designated support channels for further assistance.

Also featured in the bank's digital offerings is FirstEase, a Buy Now, Pay Later (BNPL) service designed to provide customers with flexible payment options for purchases, essential products and bill payments.

Through the initiative, customers can spread payments over an agreed period rather than make full payments upfront.

The bank is also leveraging partnerships with gadget retailers and platforms, including Ringaz Gadgets, to enable customers to acquire new devices and upgrade their technology through manageable instalments.

The three solutions reflect FirstBank's broader strategy of leveraging digital technology to improve banking accessibility, support enterprise development and respond to changing consumer financial needs.

The bank said the initiatives align with its customer-focused You First philosophy, which emphasises convenience, security and financial flexibility across its service channels.

Customers can access the solutions through the bank's digital platforms, including the FirstMobile application, while businesses seeking online payment services can explore FirstChekOut.