FirstEase: How FirstBank Is Making Big-Ticket Purchases and Everyday Bills Easier

For many Nigerians, buying a new smartphone, laptop, television, refrigerator or other essential household appliance can become a difficult financial decision, particularly when the full cost has to be paid upfront.

The same challenge can arise when an unexpected electricity, data, cable or other household bill comes at a time when available cash is limited.

This is the gap that FirstEase, FirstBank’s response to the emerging Buy Now, Pay Later (BNPL) model, is designed to address. The solution gives eligible customers an opportunity to access selected products and services while spreading repayment over an agreed period.

FirstEase is a digital lending solution that allows customers to shop, pay bills and spread payments over time. The product operates through two major channels: FirstEase for e-commerce purchases and FirstEase for bill payments.

The solution is particularly relevant to salary earners and other eligible customers seeking more flexible ways to manage purchases and selected expenses. Customers can access FirstEase through digital channels and approved merchant platforms without having to visit a physical banking hall.

From Gadgets to Household Appliances

One of the most practical applications of FirstEase is its e-commerce offering.

Eligible customers can purchase products through participating FirstBank partner merchants and pay through an instalment arrangement instead of providing the full purchase price upfront.

Some of the participating e-commerce platforms and merchants include Ringaz, Chamuze, Pointek, Webuyam, Electromall and Uwana Energy. FirstBank also partners with Klump, which aggregates merchants such as Jumia, Konga and ShopAhome.

Product categories available through participating merchants include smartphones, laptops, tablets, televisions, refrigerators, washing machines, microwaves, sporting equipment, gadgets and other household essentials.

This means a customer who needs a device for work, a television for the home or an appliance that cannot be postponed can consider a structured payment option rather than waiting until the full purchase price has been saved.

For e-commerce purchases, customers are required to make a minimum 30 per cent equity contribution, while the balance is financed through FirstEase. The e-commerce facility has a tenor of up to six months, with monthly repayments scheduled around the customer’s payday. The maximum loan amount is ₦1 million.

Beyond Shopping: Paying Bills With FirstEase

FirstEase is not limited to shopping. Its bill-payment variant allows eligible customers to access financing when paying selected bills through FirstMobile and the LIT App.

Through the mobile apps, customers select a biller, enter the required details and activate the FirstEase option before completing the transaction.

Electricity, data, cable, airtime and related services are among the expenses covered by the bill-payment offering.

Unlike the e-commerce facility, FirstEase bill payment requires zero equity contribution. The minimum transaction amount is ₦1,000, while the maximum is ₦200,000, with a 30-day repayment tenor.

The two variants therefore serve different needs. The e-commerce option is structured around the purchase of products through participating merchants, while the bill-payment option provides financing at the point of paying selected bills.

A Digital Journey Built Around Convenience

The FirstEase process is designed to take place largely through digital channels.

For an e-commerce transaction, a customer selects a product, proceeds to checkout, chooses FirstCheckout and then selects FirstEase. The customer’s account number is validated, eligibility is assessed and the customer selects a preferred repayment tenor.

Before the transaction is completed, the customer is presented with relevant repayment details, including the upfront equity contribution and monthly instalment.

FirstEase uses credit assessment and affordability checks as part of its eligibility process. The product compendium outlines a multi-stage assessment involving FirstBank’s credit and customer records, including account activity, salary account status and a valid BVN.

The process also incorporates third-party scoring as well as artificial intelligence and machine-learning models before an eligibility outcome is provided.

Credit-risk and machine-learning models are used to determine personalised eligibility amounts for both e-commerce and bill-payment options.

Flexible Repayment, With Responsibility

The attraction of Buy Now, Pay Later is ultimately about timing: gaining access to a product or service when it is needed while spreading the financial obligation over an agreed period.

For e-commerce FirstEase, there is an interest charge of three per cent per instalment on a reducing balance, alongside a two per cent one-off insurance charge at disbursement and a FirstCheckout fee of 1.2 per cent, capped at ₦2,000.

For bill payments, there is a five per cent monthly interest charge and a three per cent monthly insurance charge.

Customers are also provided with repayment information and reminders. FirstEase includes automated collection and repayment features, while SMS and email reminders are sent ahead of due dates.

Customers can also request information about their outstanding obligations through the available mobile channels.

The arrangement therefore places convenience alongside repayment responsibility. Customers are expected to understand the applicable charges, repayment dates and terms before accepting an offer.

Financing at the Point of Need

At its core, FirstEase reflects a shift in how consumers can access financing for everyday needs.

Instead of treating credit solely as cash deposited into a customer’s account, the product connects financing directly to the purchase of a product or the payment of a bill.

FirstBank distinguishes FirstEase from a conventional consumer loan through its point-of-sale financing structure, streamlined approval process, speed, convenience and direct integration with participating merchants.

For eligible customers, the proposition is straightforward: FirstEase provides another way to manage the cost of important purchases and selected bills without necessarily requiring the full payment to be made immediately.

As digital adoption and e-commerce continue to reshape how Nigerians shop and pay for services, FirstEase places financing within the same digital journey — from selecting a product or bill to completing the transaction, receiving purchased goods and managing repayment.

In a market where payment flexibility is becoming increasingly important, FirstEase brings Buy Now, Pay Later financing directly into the purchasing and bill-payment process, giving eligible FirstBank customers another option for managing short-term financial needs.