FirstBank Partners with Pointek for Credit Gadget Purchases

FirstBank of Nigeria Limited has launched a partnership with technology retailer Pointek to facilitate credit purchases of smartphones, laptops, AirPods, and household appliances. Customers are required to pay 30% of the purchase price upfront, with FirstBank financing the remaining 70% and paying Pointek directly.

This initiative integrates FirstBank’s FirstEase digital lending product into Pointek’s retail channels, allowing customers to access financing at the point of sale. Abednego Ugwueke, FirstBank’s Group Head of E&RP, stated that this product addresses the challenges consumers face due to high upfront costs of technology devices.

Customers can access the facility through FirstBank’s mobile app or Pointek’s app. Chukwuka Okonkwo, Head of Personal Banking at FirstBank, mentioned that eligibility will be assessed based on account transaction histories and the bank’s algorithmic lending system.

The facility targets salary earners, professionals, and entrepreneurs. Bolanle Onime from Pointek confirmed that customers using FirstEase would pay the same prices as those purchasing outright.