FirstBank And Pointek Partner On Instalment Payments For Electronic Devices

FirstBank And Pointek Partner On Instalment Payments For Electronic Devices

FirstBank of Nigeria Ltd. has partnered with electronics retailer Pointek to enable eligible customers to purchase smartphones, laptops and other devices through instalment payments.

The partnership, unveiled in Lagos on Wednesday, will allow customers to access FirstBank’s FirstEase buy-now-pay-later facility when purchasing eligible products through Pointek’s retail platforms.

Mr Abednego Ugwueke, FirstBank’s Group Head, E-Business and Retail Products, said the initiative would address the difficulty of paying the full cost of electronic devices upfront.

He said rising demand for devices with greater computing power, memory and speed had increased the cost of acquiring technology for work, education and business.

Ugwueke said the partnership would integrate financing into the purchasing process, allowing eligible customers to access the facility while shopping without applying separately for a conventional loan.

According to him, the initiative reflected the bank’s commitment to leveraging technology and strategic partnerships to improve access to financial services.

“Customers will receive information on eligibility requirements, application procedures and repayment terms to support informed borrowing decisions,” he said.

Mr Chukwuka Okonkwo, FirstBank’s Head of Personal Banking, said customers could access FirstEase through the bank’s digital channels and Pointek’s online platform.

He said customers could select eligible products, choose the available financing option at checkout and spread payments over an agreed period.

Okonkwo said the arrangement would extend digital lending beyond conventional cash loans to financing essential products that customers needed.

He said repayments could be spread over six months, with a three per cent charge, although prospective customers would need to confirm applicable fees and terms.

Mr Godwin Ajala, Pointek’s Director of Business, said access to digital devices was increasingly important to financial inclusion.

He said smartphones and computers enabled people to access banking services, educational resources, healthcare information and business opportunities.

Ajala said the partnership would help eligible customers overcome the immediate financial barrier of paying the full cost of devices.

He said traders could use smartphones to receive digital payments and reach more customers, while students and professionals could access learning resources, meetings and other online services.

“Financial inclusion is not just about accessing financial services. It is also about having the tools to make those services useful in everyday life,” he said.

Ajala, however, said device ownership alone would not guarantee digital inclusion, stressing the importance of internet connectivity, digital skills, relevant services and responsible financing.

He said the partnership aimed to make technology more accessible and enable more Nigerians to participate meaningfully in the digital economy.

The collaboration combines FirstBank’s financing capabilities with Pointek’s electronics retail platform, offering eligible customers an alternative way to pay for electronic devices.