First Bank of Nigeria Limited,
Nigeria’s premier and leading financial inclusion services organisation has
announced its partnership with Nigeria Inter-Bank Settlement System plc (NIBSS)
on its recently launched Nigeria Quick Response (NQR) Payment Solution.
The NQR is an innovative payment
option implemented for all financial service providers and designed to promote
quick and fast transactions by scanning the code on one's mobile device. Also,
the initiative reduces cost(s) for merchants and banks in delivering instant
value for person to business (P2B) and person to person (P2P) transactions by
simply scanning to pay. Unlike other QR schemes, the NQR is implemented with
reduced charges that is cheaper for merchants.
The initiative is accessible on
the Bank’s payment infrastructure as the NQR code can be used to make payments
through one’s FirstMobile App. And it is also available for the merchant in
facilitating their business activities. The touchpoint and use cases of the NQR
payment solution include convenience stores, supermarkets, shopping malls,
pharmacy, ride-hailing/taxi payments, bus fares, tolling booths payments,
vending machines, e-commerce sites, online (Instagram) businesses amongst many
others.
To access the service, launch
your FirstMobile App and select QR payment. Afterwards, choose NIBSS as a
payment provider, then scan the seller's NQR barcode. Thereafter, the amount is
inputted, followed by PIN validation to generate an instant confirmation of the
transaction successfully. On the other hand, merchants are to visit any
FirstBank branch closest to them for service enrolment.
Speaking on the initiative Dr.
Adesola Adeduntan, CEO, FirstBank said “we are delighted with the adoption of
the Nigeria Quick Response (NQR) payment solution, an initiative by Nigeria
Interbank Settlement System plc (NIBSS) which has been instrumental to easing
and promoting payment convenience with the use of mobile phones. At FirstBank,
we recognize the indelible role technology plays in promoting businesses across
diverse frontiers and we remain committed to reinventing our technology
infrastructure to meet global standards whilst being committed to staying true to our mantra in always putting
You, our customers First.
About FirstBank
First Bank of Nigeria Limited
(FirstBank) is the premier Bank in West Africa and the leading financial
inclusion services provider in Nigeria for over 127 years.
With over 750 business locations
and over 130,620 Banking Agents spread across 99% of the 774 Local Government
Areas in Nigeria, FirstBank provides a comprehensive range of retail and
corporate financial services to serve its over 30 million customers. The Bank
has international presence through its subsidiaries, FBN Bank (UK) Limited in
London and Paris, FBNBank in the Republic of Congo, Ghana, The Gambia, Guinea,
Sierra-Leone and Senegal, as well as a Representative Office in Beijing.
The Bank has been handy at
promoting digital payment in the country and has issued over 10million cards, the
first bank to achieve such a milestone in the country. FirstBank’s cashless
transaction drive extends to having more than 10million people on its USSD
Quick Banking service through the nationally renowned *894# Banking code and
over 4.5 million people on FirstMobile platform.
Since its establishment in 1894,
FirstBank has consistently built relationships with customers focusing on the
fundamentals of good corporate governance, strong liquidity, optimised risk
management and leadership. Over the years, the Bank has led the financing of
private investment in infrastructure development in the Nigerian economy by
playing key roles in the Federal Government’s privatisation and
commercialisation schemes. With its global reach, FirstBank provides prospective
investors wishing to explore the vast business opportunities that are available
in Nigeria, an internationally competitive world-class brand and a credible
financial partner.
FirstBank has been named “Most
Valuable Bank Brand in Nigeria” six times in a row (2011 – 2016) by the
globally renowned “The Banker Magazine” of the Financial Times Group; “Best
Retail Bank in Nigeria” for seven consecutive years (2011 – 2017) by the Asian
Banker International Excellence in Retail Financial Services Awards and “Best
Bank in Nigeria” by Global Finance for 15 years. Our brand purpose is always to
put customers, partners and stakeholders at the heart of our business, even as
we standardise customer experience and excellence in financial solutions across
sub-Saharan Africa, in consonance with our brand vision “To be the partner of
the first choice in building your future”. Our brand promise is always to
deliver the ultimate “gold standard” of value and excellence. This commitment
is anchored on our inherent values of passion, partnership and people, to
position You First in every respect.
Folake Ani-Mumuney
Group Head, Marketing &
Corporate Communications
www.firstbanknigeria.com
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