First Bank of Nigeria has announced its mobile payment solution Firstmonie has more than one million customers less than two years after it was launched.
Firstmonie was launched in 2012 as part of the bank’s financial inclusion initiative with the aim of providing banking services to the unbanked and the under-banked population in Nigeria.
Head of marketing and corporate communications at FirstBank Folake Ani-Mumuney said: “We are pleased by this achievement, which signifies the level of Firstmonie’s acceptance among subscribers. We believe that the tremendous growth it has recorded so far illustrated the important role it plays in providing easy access to financial services for customers on the go.
She said Firstmonie was created in line with the cashless policy of the Nigerian government and allows users to efficiently and securely send money across Nigeria.
“The Firstmonie solution was created to provide convenient and safer banking for the under-banked and unbanked to access their bank account and transfer funds with the use of their mobile phones,” she said.
“This enables subscribers to send and receive money, pay bills, buy airtime, and make sundry purchases in Nigeria without owning a bank account. The transaction on the platform has no time barriers and can be carried out at any time of the day.
“The platform also supports wealth creation by providing opportunities for thousands of entrepreneurs across the nation and has been associated with several initiatives like The Bill & Melinda Gates Foundation Grant, among others.”
