Payments & Collections Products for

SMEs

Outline

• FirstPAY

• Mobile Revenue Collections

• FirstHealthCollect+

• Franchise Collection Mandates

FirstPAY

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Product DefinitionThis is FirstBank’s electronic payment solution. It is web based, robust, highly secure, and user friendly.

Benefits

• Eliminates the burden of issuing multiple cheques to third parties and cheque clearing delays

• 24/7 availability• Reduces the

administrative overload involved with salary administration & payments

• Solution to time critical payments.

 

• Convenient mode of settling regular and periodic payments such as salaries, premium, vendor and other such payments.

• It eliminates the need for multiple passwords for different epayment applications

• Enables compliance with CBN cashless policy

Features Multi-Bank: Customers are able to

transact from any of their bank accounts set-up on the system as against being limited to FirstBank accounts alone.

Multi-Switch: FirstPAY offers customers the alternative of routing their payment instructions via the InterSwitch, NEFT, NIBBS or RTGS Platforms. This minimizes the rate of transaction failure.

Role Based Access: Users can only access and perform the role assigned to them on the system. Only the final approving officer can authorize payments. It is therefore highly secure.

Multiple Levels of Authorization: Customers can set-up the system to replicate their payment approval workflow so that their workflow is not upset by its implementation. It also permits customers to define up to 19 levels of authorization.

Transaction Alerts/Reports: FirstPAY alerts payee when a payment has been made to his account. Customers are also able to view the status of all payments processed on the system.

Mobile Revenue Collections

Product/Features Benefits This product is aimed at enabling

collections from the un-banked as well as people residing in the hinterlands or locations where banking and telecommunication facilities and infrastructure are unavailable.

Collections are done through the use of specialized POS terminals that have off-line capability.

It is suitable for SMEs, MFBs, Local Government authorities and others.

It enhances the customer’s revenue/sales collection.

It provides revenue assurance by preventing pilferage, diversion and suppression of funds.

Provides payment convenience for the customer’s clients

FirstHealthCollect+

Product/Features Benefits

FirstHealthCollect+ is FirstBank’s hospital management and revenue collection solution, borne out of the need to enhance hospital management by effectively coordinating administrative processes such as:

Generation of patient data Scheduling appointments, Drug inventory management Effective billing Revenue collection Reconciliation etc.

The solution has various modules which can be deployed in phases depending on the hospital’s needs and peculiarities.

It automates the hospital’s processes thus improving efficiency

It provides revenue assurance by addressing the issue of pilferage, diversion and suppression of funds

It eases account reconciliation

Provides payment convenience for patients

Franchise Collection Mandates

Product/Features BenefitsThis is the collection of various bills and taxes on behalf of organizations in both the public and private sectors of the economy. Our collection mandates include:

1. FIRS2. Customs & Excise Duties3. Nigeria Ports Authority4. NIMASA5. Electricity Bills6. TV Subscriptions7. States Government taxes8. Telecom subscriber & dealer

payments9. Water Bills10.Waste Bills11.Tertiary institutions 12.Sales Collections etc.

This service provides payment convenience to our customers as payment can be made through various channels such as branch, ATMs, web, FirstOnline & Firstmonie

It saves customers the stress of liaising directly with the billers and tax offices as payments are processed through the bank and electronic receipts issued to them

Thank you

www.firstbanknigeria.com 7