FirstBank Partners with Pointek for Smartphone Financing

FirstBank has partnered with Pointek to introduce a Buy-Now-Pay-Later (BNPL) scheme, allowing eligible customers to purchase smartphones, laptops, and household appliances. Customers can utilize FirstEase, FirstBank’s digital lending solution, to finance their purchases and spread payments over three to six months.

Chukwuka Okonkwo, FirstBank’s Head of Personal Banking, stated that customers are required to contribute 30% of the purchase price to access this financing option. The initiative marks a shift in FirstBank’s retail lending strategy, focusing on specific product financing rather than traditional cash loans.

Abednego Ugwueke, in charge of E-Business and Retail Products, emphasized the convenience of integrating financing into the shopping process. Customers can access financing while shopping at Pointek, eliminating the need for a separate loan application.

Pointek’s Director of Business, Godwin Ajala, noted the importance of digital devices for various sectors, including banking and education. Pointek operates 24 outlets, providing a retail network for eligible purchases.