FirstBank and Pointek Launch Instalment Payment Plan for Tech

FirstBank of Nigeria has entered into a partnership with electronics retailer Pointek to provide eligible customers with the opportunity to purchase smartphones, laptops, and household appliances through instalment payments via the FirstEase buy-now-pay-later product. This initiative allows customers to acquire devices without paying the full price upfront, with repayments spread over six months at an interest rate of 3%.

Abednego Ugwueke, Group Head, E&RP at FirstBank, stated that FirstEase was designed to offer customers greater flexibility in purchasing essential products. The partnership enables customers to access financing while shopping on Pointek’s platform, eliminating the need for a conventional loan application.

Chukwuka Okonkwo, Head of Personal Banking at FirstBank, noted that eligibility is determined through an algorithm-driven assessment based on account maintenance and transaction history. Dr Godwin Ajala, Director of Business at Pointek, emphasized the importance of affordable devices for meaningful participation in the digital economy, highlighting that the initiative aims to reduce cost barriers for Nigerians.