First Bank ATM accounts for 45% payment services in Nigeria

By ODUNEWU SEGUN

FIRST Bank of Nigeria Ltd, a subsidiary of FBN Holdings Plc has said that it has the highest number of Automated Teller Machines (ATM) in the country with about 2,700 ATMs deployed across the country.

According to the bank’s spokesperson, Folake Ani-Mumuney, between January and December 2015, FirstBank had deployed a total of 2,749 active ATMs, and dispensed over N2.1 trillion. The bank is also currently responsible for over 40 percent of interbank transactions and 27 percent of airtime vending. As active mobile network users in Nigeria are over 151 million and the need to recharge is on the increase, the bank’s ATMs also provide the platform for easy top-up.

She said that to aid the use of its ATMs nationwide and for enhanced protection of customers’ funds, the Bank has, in particular, designed innovative and tailored-made financial services products to ease banking transactions. A major product is the FirstBank Verve Debit card, a Naira denominated domestic payment card accepted for payment throughout Nigeria on all electronic channels, including the ATMs.

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Speaking further, Mumuney said to cater for as many customers as possible, FirstBank ATMs are equipped with cardless functionality that makes it easier for non-bank customers to deposit or withdraw money from the ATMs without a Debit card.

To further enhance convenience, FirstBank’s ATMs. Mumumney said it also operate the Cash Deposit function which allows customers to deposit funds without customarily having to enter a banking hall for this transaction. This is a direct testament to its value proposition of putting customers first.