FirstBank Unveils FirstMonie Merchant Solution to Boost Digital Payments Across Nigeria
FirstBank, a leading financial institution and champion of financial inclusion in West Africa, has announced the launch of its innovative FirstMonie Merchant Solution. This new platform is designed to enable merchants and businesses nationwide to accept digital payments seamlessly, efficiently, and securely.
The FirstMonie Merchant Solution addresses the growing demand for reliable digital payment systems by offering features such as an automated and straightforward onboarding process, an integrated referral system, and customizable options like Pay with Transfer and Purchase. Additional functionalities include instant settlement, concession management with flexible and competitive pricing, automatic terminal registration, and a comprehensive suite of products catering to various pricing tiers. The solution also provides pre-configured POS terminals ready for use and a network dashboard for real-time monitoring, dispute resolution, and complaint management. These features significantly improve the merchant experience by enhancing liquidity, accuracy, and operational control while reducing chargebacks.
Chuma Ezirim, Group Executive of E-Business and Retail Products at FirstBank, commented on the launch: “The FirstMonie Merchant Solution is set to revolutionize digital payments in Nigeria. Its advanced features and seamless onboarding process empower businesses of all sizes and locations to thrive in the digital economy.”
He further emphasized that the solution will boost operational efficiency within Nigeria’s payment landscape: “This is more than just a product launch; it’s about simplifying payment processes and providing merchants with greater transparency, control, and speed for daily transactions. At FirstBank, we remain committed to building financial ecosystems that deliver value, convenience, and trust.”
Existing and new FirstBank account holders can access the FirstMonie Merchant Solution through a simple online registration at www.firstbanknigeria.com/getyourpos
Leveraging FirstBank’s robust technological infrastructure, the FirstMonie Merchant Solution exemplifies the bank’s dedication to fostering growth and financial inclusion by offering scalable, reliable, and user-friendly digital solutions tailored to the evolving needs of Nigerian businesses.
Beyond facilitating seamless digital payments, the solution also underscores FirstBank’s commitment to the safety and security of merchant funds—a critical assurance many fintech alternatives do not provide.
With a heritage spanning 131 years, FirstBank continues to lead innovation in African banking. The introduction of the FirstMonie Merchant Solution reaffirms the bank’s position at the forefront of digital banking and its mission to expand access to financial services across Nigeria. Supported by a network of over 300,000 FirstMonie agents, FirstBank remains dedicated to delivering accessible, innovative financial solutions for individuals and businesses nationwide.