FirstBank of Nigeria has partnered with electronics retailer Pointek to help eligible customers buy smartphones, laptops, tablets and other electronic devices through its FirstEase Buy-Now-Pay-Later solution.
The arrangement allows eligible customers to spread payments over periods of up to 180 days, subject to approval and the applicable repayment terms.
Customers can access the financing through FirstBank’s FirstMobile and LIT applications. The initiative is designed to address the upfront cost of technology products for salary earners, professionals, entrepreneurs and other eligible customers.
The partnership combines Pointek’s retail distribution network with FirstBank’s digital lending services. It could help customers obtain devices needed for work, education and business without paying the entire purchase price immediately.
However, customers should review the financing charges, repayment schedule and eligibility requirements before taking on the credit.
The partnership also reflects the growing use of embedded finance, where customers can access credit directly through the process of purchasing goods and services.
