Get Guardian on GoogleFirstBank has partnered with technology retailer Pointek to expand access to consumer credit, enabling eligible customers to acquire smartphones, laptops, home appliances and other essential devices and spread payments over six months.
The partnership, announced at a press conference at Pointek’s head office in Ikeja, Lagos, brings the retailer onto FirstEase, FirstBank’s Buy Now, Pay Later (BNPL) digital lending platform.
The arrangement allows customers to finance purchases at Pointek outlets through FirstBank’s FirstMobile or LIT applications, with repayment periods of up to 180 days.
Speaking on the partnership, the Head of Personal Banking at FirstBank, Chukwuka Okonkwo, said the product builds on the bank’s experience in digital lending but shifts its focus towards financing customers’ lifestyle needs rather than providing cash loans alone.
He explained that customers could initiate transactions through the FirstMobile application or Pointek’s website, where the financing option is integrated into the purchase process.
“We have created a very seamless way for people to purchase phones, laptops, and electronic equipment from Pointek and do it over six months at an interest rate of three per cent,” he said.
He added that customers could also opt for shorter repayment periods, depending on their preferences and financing needs.
The Group Head, e-Business and Retail Products at FirstBank, Abednego Ugwueke, said the partnership reflected the bank’s efforts to develop innovative financing solutions that help customers meet everyday needs without placing undue pressure on their finances.
“We are continuously developing innovative ways to support our customers to meet their needs, and that is why we are expanding access to FirstEase to make life easier for our customers. Through this partnership with Pointek, we are empowering customers to acquire devices and appliances they need today while paying over time in a structured and affordable manner,” he said.
Under the arrangement, eligible customers can purchase a range of products, including smartphones, laptops, tablets and household appliances, while spreading payments across flexible repayment periods.
The initiative is targeted at salary earners, professionals, entrepreneurs and other individuals seeking convenient access to essential goods and services.
Director of Business at Pointek, Dr Godwin Ajala, said the partnership would make technology products more accessible by allowing consumers to acquire devices immediately and pay in instalments.
“We are making it easier for Nigerians to get the technology they want and pay for it at their own pace. Through our partnership with FirstEase, Nigerians can now own the devices they need from Pointek today and pay conveniently in instalments with Pay Small Small,” he said.
The partnership is expected to strengthen access to technology financing at a time when rising prices have made smartphones, computers and other digital devices increasingly difficult for many households to afford.
