FirstBank: New FirstMonie Merchant Solution designed to drive digital payments

*FirstBank of Nigeria Limited says its FirstMonie Merchant Solution comes with advanced features and seamless onboarding to enhance operational efficiency of businesses of all sizes and locations to thrive in the West African country’s digital economy

Alexander Davis | ConsumerConnect

FirstBank Nigeria Limited has officially activated its FirstMonie Merchant Solution.

The leading commercial bank noted the new solution was designed to enable merchants and businesses across Nigeria to seamlessly accept digital payments with efficiency and ease in the financial ecosystem.

The bank stated the FirstMonie Merchant Solution responds to the increasing need for dependable digital payment systems, offering a streamlined and automated onboarding process, an integrated referral system, and customisable features, such as Pay with Transfer and Purchase.

FirstBank also disclosed its FirstMonie Merchant Solution comes with supplementary capabilities, including instant settlement, concession management with flexible and competitive pricing, automatic terminal registration, and a comprehensive suite of products spanning all pricing tiers.

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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 minimising chargebacks.

Soeaking on the product launch, Chuma Ezirim, Group Executive, e-Business and Retail Products at FirstBank, stated: “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.”

Ezirim stressed the FirstMonie Merchant Solution would enhance operational efficiency within Nigeria’s payments industry.

The Group Executive, e-Business and Retail Products at FirstBank also said: “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.”