Varieties of FirsteConnect FirstBank Nigeria Ltd

FirsteConnect

Most retailers or businessmen who has an e-commerce website, enjoys most of our offers with Firsteconnect. You may ask yourself what e-commerce offers, but we have answers to your questions. FirsteConnect is an internet platform which enables businessmen or retailers to receive payment for the goods and services which consumers purchased through their e-commerce website. These varies depending on the type of offer it provides. They are as follows;

  1. FirsteConnect Classic
  2. FirsteConnect Gold
  3. FirsteConnect Platinum

The Internet payment for goods and services allows the use of local and international cards for online payment such as; master card, verve card, visa card.

Types of FirsteConnect Offers

These presents three various products which it offers, and these products has specific renowned features and benefits.

 FirsteConnect Classic;

These only support businesses that has no website. But this is not a pressing issue because the FirstBank of Nigeria has built partnership with 3Al Limited. An ICT company which enables online payments to retailers and merchants without ownership of functional website.

 Payment Charges 

  1. Doesn’t require any payment for the set-up
  2. Discounts are allotted to 3AL Company by the merchant or the retailer the 3AL portal maintenance, insurance for the goods.

Features of 3al.com

  1. Connect with friends and contacts on social media sites
  2. Having a web presence at no additional cost
  3. Login with Facebook profile
  4. Integration with courier systems for delivery of goods.
  5. Messaging service
  6. Live interaction between buyers, sellers and support staff
  7. Loyalty and discount to drive traffic
  8. Payment solution which accepts payments from all card types
  9. Posting of comments by sellers and buyers on displayed goods
  10. Credit facility for buyers on the platform
  11. Merchants are granted access to display their goods in line with their brand style

Benefits

FirsteConnect Classic Creates online visibility at no extra cost and increases awareness and reach of the SME’s products and services. Provides an opportunity to interact with buyers and potential clients from all locations in Nigeria and globally. It’s also an Online Reporting Tool where Price comparison and competitive pricing are established. Reduces cost of doing business since customers can order for goods without visiting business location. With these, credit facility on products (in line with consumer banking financing guidelines) are fully enjoyed.

FirsteConnect Gold

Locally used cards such as the MasterCard, Visa card and Verve card are useful in these variant type because it’s only open for Local transactions.

Payment Charges 

  1. 5% Cards charges are applied for N2000.00 per transaction
  2. Requires a set-up fee of N150, 000.00, but it would only be paid once by the retailer.

FirsteConnect Platinum

With the use of MasterCard and Visa Card, the FirsteConnect is so much possible because it allows both local and international transactions. 4% MSC charges are applied with no cap on transactions. Merchants only got one time to make payment of N75, 000.00 and monthly fee of N120, 000 per year.

Payment Charges 

  1. The transaction fee per payment for international transaction is 4% of the transaction amount without a cap
  2. There is a recurring cost of N120, 000.00 per year for FirsteConnect Platinum.
  3. Transaction fee per payment is 1.5% of the transaction amount with a cap of N2, 000.00 for domestic transaction
  4. Implementation cost for FirsteConnect Gold is N150,000 while Platinum is N75,000
  5. Upgrade to International acquiring is Free i.e. the set-up fee

General Features of FirsteConnect

  1. Real-time transaction reporting
  2. Transaction settlement in naira and USD (based on customer preference).
  3. Accepts payments from all card types (MasterCard, Visa and Verve cards)
  4. Reduced Implementation time (24 hours)

Benefits to Corporate

  1. Enables proper cash flow management since corporates have access to view payments that will be credited to its account in the days ahead.
  2. Everyday availability of the Corporate business
  3. Its ability to accept payment from internet users irrespective of geographical location and time

Target Market 

FirsteConnect is necessary for the following under listed categories;

  1. Online Shopping Malls and other web stores.
  2. Airlines, Hotels and Religious Institution
  3. Schools, Institutions and Associations

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