FirstBank Nigeria has partnered with retail company Pointek to introduce FirstEASE, a buy-now-pay-later service designed to make mobile devices, electronic gadgets, and household appliances more affordable to Nigerians.
The initiative offers customers flexible instalment payments, with the aim of expanding access to essential technology and promoting digital inclusion.
Speaking at the launch in Lagos, FirstBank’s Group Head, E-Business and Retail Products, Abdenego Ugwueke, said the partnership was developed to ease the financial burden of purchasing modern devices required to participate in the digital economy.
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He explained that the increasing demand for devices with better computing power, memory and speed had made upfront purchases more expensive for many consumers.
Ugwueke said FirstEASE would provide transparent financing arrangements, enabling customers to make informed decisions when purchasing products from Pointek outlets.
Also speaking, FirstBank’s Head of Personal Banking, Chukwuka Okonkwo, said the digital lending solution uses artificial intelligence and machine learning to assess customers’ eligibility.
He added that approved customers could spread payments over six months at an interest rate of three per cent.
Okonkwo said the arrangement covers purchases including smartphones, laptops and other electronic equipment, providing customers with an alternative to paying the full cost upfront.
