‘First Bank’s ATMs account for 37% of bills payment in industry’
First Bank of Nigeria Limited has said that its Automated Teller Machines (ATMs) presently accounts for 37 percent of bills payment services on ATMs in Nigeria’s banking industry.
In 2017, about 402,102 bill payments were made through the Bank’sATMs while the value of airtime purchase was about N1.7 billion.
To cater for the financial services needs of its customers and in line with its strategy to drive convenience and ease in banking, FirstBank is presently leading in the industry as the Bank with the highest number of Automated Teller Machines (ATMs), with 2,897 ATMs deployed across the Nigeria, making it the nation’s financial institution with the widest retail footprint.
A statement from the lender over the weekend, noted that the Bank’sATMs have unique functional features which include bills payment, cash transfer, air-time top-up, cash deposit among others.
The bills payment option according to the statement is the non-cash transaction feature on the ATM that makes it easier for customers to pay for bills such as Cable TV subscription, post-paid phone bills, and pre- booked airline tickets. These transactions can be executed through the Quickteller option on any of the Bank’sATMs. The Transfer feature enables customers to transfer money from their accounts to both intra (within FirstBank) and interbank (other banks) accounts, thereby reducing the queues in the banking hall, saving time as well as providing a more convenient option for customers’ money transfer needs.
Chuma Ezirim, the Bank’s Group Head, E-Business, said the distinct developments in FirstBank ATMs were achieved as a result of the desire to reach out to more people in the country and as part of putting customers at the heart of the business. “FirstBank is positioned to meet the needs of its customers and to reach out to the under banked and unbanked. Our mission is to remain relevant in the lives of our customers by continually working at making banking services a more convenient experience for our customers. The Bank’sATMs dispensed over N2.8 trillion between January and December 2017”, he further stated.
FirstBank is currently responsible for over 15 percent of interbank transactions and 21 percent of airtime vending. As active mobile network users in Nigeria are over 142 million and the need to recharge is on the increase, the Bank’sATMs also provide the platform for convenient and easy top-up.
To further enhance convenience, FirstBank’sATMs operate the Cash Deposit function which allows customers to deposit funds without customarily having to enter a banking hall for this transaction. The Bank’sATMs are also equipped with cardless functionality that makes it easier for non-bank customers to deposit or withdraw money from the ATMs without a Debit card. This is a direct testament to its value proposition of putting customers first.