News: First Bank Partners PayPal to Expand E-Commerce Access in Nigeria #WilkeyPerkins Blog

Africa and emerging economies are facing in its expansion.

Mr Onasanya said the bank has been on a continuous  journey of innovation, high level technology and strategic business initiatives which is mainly focused on creating value for the customers.

The Bank Chief was confident that the FirstBank Paypal platform will change the face of the e-commerce market in Nigeria, which presents enormous potentials that have been untapped.  continue...

In his remarks the Head Sub-Saharan Africa and Israel region for Paypal Mr. Efi Dahan said the partnership with First Bank Nigeria, was its third in Africa and believed engaging the biggest bank in the country, will revolutionize the mobile payment and transactions space.

  Mr Dahan asserted that Paypal was in Nigeria to drive and deepen the e-commerce market in Nigeria, with its unique value proposition of simple, safe and smart transactions. He further stated that as a leading online solution provider in the globe, Paypal currently processes 9million transactions daily and has 148ml active accounts in 203 markets, with payments made in about a 100 currencies.

  In a presentation to buttress the value of the partnership, the Group Head E-Business First Bank Nigeria Mr Chuma Ezirim identified the exponential growth of the mobile telephony industry in Nigeria, which is projected to hit over $1 trillion USD as a strategic gateway  for the FirstBank Paypal platform.  Mr Ezirim highlighted the strides of  First Bank in the mobile banking to include; over 10.7ml accounts served through a network of 800 locations, the largest base of payment cards (over 7.5ml active accounts) and an aggressive digital banking rollout especially the success of the ‘Firstmonie’, which has over 1.5ml users.

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