FirstBank, the leading financial institution and provider of financial inclusion services in West Africa, has officially launched its FirstMonie Merchant Solution. This innovative platform is designed to enable merchants and businesses across Nigeria to seamlessly accept digital payments with efficiency and ease.
The FirstMonie Merchant Solution responds to the increasing need for dependable digital payment systems by offering a streamlined and automated onboarding process, an integrated referral system, and customizable features such as Pay with Transfer and Purchase. Additional capabilities include instant settlement, concession management with flexible and competitive pricing, automatic terminal registration, and a comprehensive suite of products spanning all pricing tiers. The solution comes equipped with pre-configured, ready-to-use POS terminals, as well as a network dashboard offering real-time monitoring, dispute resolution, and complaint management. These functionalities contribute significantly to improving the merchant experience by enhancing liquidity, accuracy, and operational control, while effectively minimizing chargebacks.
Chuma Ezirim, Group Executive, E-Business and Retail Products at FirstBank, remarked on the launch: “FirstMonie Merchant Solution is set to transform digital payments in Nigeria. With its advanced features and seamless onboarding, we are empowering businesses of all sizes and locations to thrive in the digital economy.”
He further emphasized that the FirstMonie Merchant Solution will enhance operational efficiency within Nigeria's payments industry. “This is not merely a product introduction; we are simplifying payment processes and providing merchants with improved transparency, control, and speed for daily transactions. At FirstBank, our commitment remains steadfast in building financial ecosystems that offer value, convenience, and trust to all stakeholders.”
Both new and existing FirstBank account holders can access the FirstMonie Merchant Solution through a straightforward online registration at www.firstbanknigeria.com/getyourpos.
Leveraging FirstBank’s established technological infrastructure, the FirstMonie Merchant Solution demonstrates the Bank’s dedication to fostering growth and financial inclusion by delivering scalable, reliable, and user-friendly digital solutions tailored to the evolving needs of Nigerian enterprises.
Beyond enabling seamless digital payments, the FirstMonie Merchant Wallet Solution reinforces FirstBank’s commitment to the safety and security of merchant funds, a critical assurance that many Fintech alternatives do not provide.
With a heritage spanning 131 years, FirstBank continues to drive innovation in African banking. The introduction of the FirstMonie Merchant Solution reaffirms the Bank’s leadership in digital banking and underscores its mission to broaden access to financial services nationwide. Supported by a network of over 300,000 FirstMonie agents, FirstBank maintains its position at the forefront of accessible and innovative financial solutions for individuals and businesses throughout Nigeria.
First Bank of Nigeria Limited “FirstBank”, established in 1894, is the premier bank in West Africa, a leading financial inclusion services provider in Africa, and a digital banking giant.
FirstBank’s international footprints cut across three continents ─ Africa, Europe and Asia, with FirstBank UK Limited in London and Paris; FirstBank in The Democratic Republic of Congo, Ghana, The Gambia, Guinea and Sierra Leone; FBNBank in Senegal; and a FirstBank Representative Office in Beijing, China. All the subsidiary banks are fully registered by their respective Central Banks to provide full banking services.
