FirstBank Unveils FirstMonie Merchant Solution to Boost Digital Payments in Nigeria

FirstBank Unveils FirstMonie Merchant Solution to Boost Digital Payments in Nigeria

Lagos, Nigeria – September 3, 2025 — FirstBank, one of West Africa’s leading financial institutions, has launched the FirstMonie Merchant Solution, a new platform aimed at transforming the digital payments landscape for businesses across Nigeria.

The solution, designed to make transactions faster, safer, and more efficient, allows merchants of all sizes to seamlessly accept digital payments. It features automated onboarding, an integrated referral system, flexible concession management, and customizable options such as Pay with Transfer and Purchase. Merchants will also benefit from instant settlement, automatic terminal registration, and real-time monitoring via a dedicated network dashboard.

Pre-configured POS terminals, dispute resolution tools, and complaint management are also included, all tailored to improve liquidity, operational control, and customer experience while minimizing chargebacks.

Speaking on the launch, Chuma Ezirim, Group Executive, E-Business and Retail Products at FirstBank, said the solution would play a critical role in advancing financial inclusion and driving Nigeria’s digital economy.

“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 said.

Ezirim added that the platform goes beyond payments by simplifying processes, enhancing transparency, and providing merchants with speed and control in their daily operations.

Both new and existing FirstBank customers can access the solution through an easy online registration at www.firstbanknigeria.com/getyourpos.

FirstBank highlighted that the FirstMonie Merchant Solution guarantees fund security — a crucial advantage over many fintech alternatives — while leveraging the bank’s robust technology infrastructure.

With 131 years of heritage and a nationwide network of more than 300,000 FirstMonie agents, FirstBank continues to lead innovation in banking. The new solution reinforces its mission to broaden access to financial services and strengthen Nigeria’s digital payments ecosystem.