{"id":870879,"date":"2025-09-06T01:12:06","date_gmt":"2025-09-06T06:12:06","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/09\/06\/firstbank-launches-firstmonie-merchant-solution-to-boost-digital-payments\/"},"modified":"2025-09-06T01:12:06","modified_gmt":"2025-09-06T06:12:06","slug":"firstbank-launches-firstmonie-merchant-solution-to-boost-digital-payments","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/09\/06\/firstbank-launches-firstmonie-merchant-solution-to-boost-digital-payments\/","title":{"rendered":"Firstbank Launches Firstmonie Merchant Solution To Boost\u00a0 Digital Payments"},"content":{"rendered":"
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\t\t\t\t\tPosted by African Examiner<\/a><\/span><\/p>\n

\t\t\t\t\tBusiness News<\/a>, Featured<\/a>, Latest Headlines<\/a><\/span><\/p>\n

\t\t\t\t\tThursday, September 4th, 2025<\/span><\/p>\n

\t\t\t\t<\/span>\t\t<\/p>\n

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(AFRICAN EXAMINER) \u2013 FirstBank, the leading financial institution and provider of financial inclusion services in West Africa, has officially launched its FirstMonie Merchant Solution.\u00a0<\/span><\/p>\n

This innovative platform is designed to enable merchants and businesses across Nigeria to seamlessly accept digital payments with efficiency and ease.<\/span><\/p>\n

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\u00a0The 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.\u00a0<\/span><\/p>\n

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.\u00a0<\/span><\/p>\n

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.\u00a0<\/span><\/p>\n

These functionalities contribute significantly to improving the merchant experience by enhancing liquidity, accuracy, and operational control, while effectively minimizing chargebacks.<\/span><\/p>\n

\u00a0<\/span>Chuma Ezirim, Group Executive, E-Business and Retail Products at FirstBank, remarked on the launch: \u201cFirstMonie 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.\u201d<\/span><\/p>\n

\u00a0<\/span>He further emphasized that the FirstMonie Merchant Solution will enhance operational efficiency within Nigeria\u2019s payments industry.\u00a0<\/span><\/p>\n

\u201cThis 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.\u201d<\/span><\/p>\n

\u00a0<\/span>Both new and existing FirstBank account holders can access the FirstMonie Merchant Solution through a straightforward online registration at <\/span>www.firstbanknigeria.com\/getyourpos<\/span>.<\/span><\/p>\n

\u00a0<\/span>Leveraging FirstBank\u2019s established technological infrastructure, the FirstMonie Merchant Solution demonstrates the Bank\u2019s dedication to fostering growth and financial inclusion by delivering scalable, reliable, and user-friendly digital solutions tailored to the evolving needs of Nigerian enterprises.<\/span><\/p>\n

\u00a0<\/span>Beyond enabling seamless digital payments, the FirstMonie Merchant Wallet Solution reinforces FirstBank\u2019s commitment to the safety and security of merchant funds, a critical assurance that many Fintech alternatives do not provide.<\/span><\/p>\n

\u00a0<\/span>With a heritage spanning 131 years, FirstBank continues to drive innovation in African banking. The introduction of the FirstMonie Merchant Solution reaffirms the Bank\u2019s 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.<\/span><\/p>\n

\u00a0<\/span>About FirstBank<\/span><\/p>\n

First Bank of Nigeria Limited \u201cFirstBank\u201d, established in 1894, is the premier bank in West Africa, a leading financial inclusion services provider in Africa, and a digital banking giant.\u00a0<\/span><\/p>\n

\u00a0<\/span>FirstBank\u2019s international footprints cut across three continents \u2500 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.<\/span><\/p>\n

\u00a0<\/span>Besides providing domestic banking services, the subsidiaries also engage in international cross-border transactions with FirstBank\u2019s non-Nigerian subsidiaries, and the representative offices in Paris and China facilitate trade flows from Asia and Europe into Nigeria and other African countries.<\/span><\/p>\n

\u00a0<\/span>For over 13 decades, FirstBank has built an outstanding reputation for solid relationships, good corporate governance, and a strong liquidity position, and has been at the forefront of promoting digital payment in the country with over 13 million cards issued to customers (the first bank to achieve such a milestone in Nigeria). FirstBank has continued to make significant investments in technology, innovation and transformation, and its cashless transaction drive has been steadily accentuated with virtually over 25 million active FirstBank customers signed up on digital channels including the USSD Quick Banking service through the nationally renowned *894# Banking code.<\/span><\/p>\n

\u00a0<\/span>With over 43 million customer accounts (including digital wallets) spread across Nigeria, UK and sub-Saharan Africa, the Bank provides a comprehensive range of retail and wholesale financial services through more than 820 business offices and over 280,000 agent locations spread across 772 out of the 774 Local Government Areas in Nigeria.<\/span><\/p>\n

\u00a0<\/span>In addition to banking solutions and services, FirstBank provides pension fund custody services in Nigeria through First Pension Custodian Nigeria Limited and nominee and associated services through First Nominees Nigeria Limited.<\/span><\/p>\n

\u00a0<\/span>FirstBank\u2019s commitment to Diversity is shown in its policies, partnerships and initiatives such as its employees\u2019 ratio of female to male (about 41%:59%; and 37% women in management roles) as well as the FirstBank Women Network, an initiative that seeks to address the gender gap and increase the participation of women at all levels within the organization.\u00a0 In addition, the Bank\u2019s membership of the UN Women is an affirmation of a deliberate policy that is consistent with UN Women\u2019s Women Empowerment\u2019s Principles (WEPs) \u2500 Equal Opportunity, Inclusion, and Nondiscrimination.<\/span><\/p>\n

\u00a0<\/span>For six consecutive years (2011 \u2013 2016), FirstBank was named \u201cMost Valuable Bank Brand in Nigeria\u201d by the globally renowned The Banker Magazine of the Financial Times Group and \u201cBest Retail Bank in Nigeria\u201d eight times in a row, 2011 \u2013 2018, by the Asian Banker International Excellence in Retail Financial Services Awards.<\/span><\/p>\n

\u00a0<\/span>Significantly, FirstBank\u2019s Global Credit Rating was A+ with a positive outlook while ratings by Fitch and Standard & Poor\u2019s were A (nga) and ngBBB+ respectively both with Stable outlooks as at September 2023. FirstBank maintained the same level of international credit ratings as the sovereign; a milestone that was achieved in 2022 for the first time since 2015.<\/span><\/p>\n

\u00a0<\/span>In 2024, FirstBank received notable international awards and accolades. Some of these include Nigeria\u2019s Best Bank for ESG 2024 and Nigeria\u2019s Best Bank for Corporates 2024 both awarded by Euromoney Awards for Excellence; Best SME Bank in Africa and in Nigeria by The Asian Banker Global Awards; Best Private Bank in Nigeria and Best Private Bank for Sustainable Investing in Africa by Global Finance Awards; Best Corporate Bank in Nigeria 2024, Best CSR Bank in Nigeria 2024, Best Retail Bank in Nigeria 2024, Best SME Bank in Nigeria 2024 and Best Private Bank in Nigeria 2024 all awarded by the Global Banking and Finance Awards.<\/span><\/p>\n

\u00a0<\/span>FirstBank has continued to gain wide acclaim on the global stage with several international awards and recognitions received so far in 2025 which includes Best SME Bank in Nigeria 2025 and Best SME Bank in Africa 2025 by The Asian Banker; Best Private Bank in Nigeria 2025 and Best Private Bank for Sustainable Investing in Africa 2025 by Global Finance Awards; SME Financier of the Year in Nigeria 2025 by The Digital Banker Global SME Banking Innovation Awards; Best Retail Bank in Nigeria 2025 and Best Bank for Empowering Women Entrepreneurs in Nigeria 2025 all by The Annual Global Economics Awards.<\/span><\/p>\n

\u00a0<\/span>Our vision is \u201cTo be Africa\u2019s Bank of first choice\u201d and our mission is \u201cTo remain true to our name by providing the best financial services possible\u201d. This commitment is anchored on our core values of EPIC \u2013 Entrepreneurship, Professionalism, Innovation and Customer-Centricity. Our strategic ambition is \u201cTo deliver accelerated growth in profitability through customer-led innovation and disciplined execution.\u201d<\/span><\/p>\n

Olayinka Ijabiyi, <\/span>Ag. Group Head, Marketing and Corporate Communications<\/span><\/p>\n

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First Bank of Nigeria Limited<\/span><\/p>\n

Short URL<\/strong>: https:\/\/www.africanexaminer.com\/?p=104266<\/small><\/p>\n

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African Examiner
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Posted by African Examiner Business News, Featured, Latest Headlines Thursday, September 4th, 2025 (AFRICAN EXAMINER) \u2013 FirstBank, the leading financial institution and provider of financial inclusion services in West Africa, has officially launched its FirstMonie Merchant Solution.\u00a0 This innovative platform is designed to enable merchants and businesses across Nigeria to seamlessly accept digital payments with<\/p>\n","protected":false},"author":1,"featured_media":870880,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[44143,2432],"tags":[44142,7812],"class_list":["post-870879","post","type-post","status-publish","format-standard","has-post-thumbnail","category-firstbank","category-launches","tag-firstbank","tag-launches"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/870879","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=870879"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/870879\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/870880"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=870879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=870879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=870879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}