Microfinance Focus, February 22, 2012: The FirstBank of Nigeria has recently signed Memorandum of Understanding with three mobile money service providers including GLO Nigeria, Etisalat Nigeria and Airtel Nigeria to provide secure, convenient, affordable and user-friendly mobile financial services to millions of Nigerians.

The mobile financial services initiative, an integral part of the broad objectives of the FSS 20:2020 was conceived by the Central Bank of Nigeria because of its critical role in achieving a “cashless society” which is fundamental to the nation’s goal of becoming one of the top 20 largest economies in the world by the year 2020.

In addition to the mobile financial services, FirstBank has in place an IT infrastructure to drive its e-payment services across transaction touch points. These services include, Internet banking, bespoke card product portfolio that addresses the payment needs of the entire Bank’s discerning customers, Automated Teller Machines (ATMs), Point of Sale Terminals (POS), and Cash Deposit ATMs amongst others.

FirstBank aims to lead the innovation drive in the mobile financial services space through progressive and robust upgrades that will enable customers perform actions such as salary lodgement, pension and other types of payments and disbursements.