FirstBank of Nigeria Ltd and PayPal have launched an exclusive strategic partnership to make it easier for FirstBank customers to pay and get paid globally; in a manner that is seamless, secure and convenient.
The partnership is in a bid to solve the challenges Nigerians often experience with paying for goods and services online, while contributing to FirstBank’s push towards a cashless society in Nigeria, coupled with leading innovation in the development of secure online payment systems.
According to Bisi Onasanya, Group Managing Director/Chief Executive Officer – “Over the years, payment cards issued by banks in emerging economies have had the challenge of acceptance for e-commerce transactions, especially by international merchants and online content providers.
In recent times particularly, the payment needs of Nigerians have continued to evolve with more people desiring to purchase goods and services online and from far flung markets across the globe.
This need increasingly underscores the imperatives for an internationally and easily acceptable e-commerce payment platform. This partnership is, therefore, opportuned at this time of accelerating e-commerce evolution in Nigeria. It is equally noteworthy, as it syncs with FirstBank’s enhanced service solutions for its SME, e-business, mobile banking and Online banking customers“.
Speaking on the significance of the PayPal Partnership, Bisi Onasanya added; “In the rapidly globalising world, an e-commerce payment solution requires the energising competitive environment presented by a rapidly growing company like PayPal, with quite impressive growth statistics, enabling its customers to send, receive, and hold funds in 25 currencies. There is no doubt that this partnership will be an instant hit.”
First Bank of Nigeria and PayPal could not have picked a better time for this partnership as this comes in the year FirstBank celebrates her 120th anniversary. FirstBank Internet-banking customers can now open a PayPal account from their FirstOnline account and use their FirstBank debit or credit card to shop and pay online on millions of websites around the world from their PCs or smartphones without having to share their card details with merchants and the reassurance of a PayPal Buyer Protection.