FirstBank, Visa unveil 2 new products to deepen electronic

In a move designed to bolster electronic banking, financial inclusion and customer satisfaction, FirstBank and Visa, at the weekend, announced the launch of two new card products designed to serve both everyday banking customers and the country’s growing affluent segment.

The two products, the Naira Visa Debit Card and the Visa Signature Debit Multi-Currency Card, were unveiled as part of a strategic partnership aimed at expanding access to secure, seamless and globally connected payment solutions for Nigerians.

The launch cements FirstBank’s position in the retail banking market while showcasing Visa’s commitment to designing products tailored to the diverse financial needs of customers across different income categories. Speaking during the unveiling, Obianuju Ndu-Okereke, Head of Cards and Messaging at FirstBank, said the two products were deliberately created to address varying customer expectations, from everyday retail transactions to premium global experiences.

According to her, the Visa Signature Card is targeted at affluent customers who require flexibility, convenience and global access in a single payment solution. She explained that the card enables customers to link both local and foreign currency accounts to one debit card, allowing seamless transactions in multiple currencies including naira, dollars, pounds sterling and euros. “The Visa Signature card and the Naira debit card meet different customer levels. The Signature card offers access to global curated experiences for premium customers.

You can have dollar, euro and other foreign currency access all embedded in one card,” she said.

Ndu-Okereke added that the premium card was designed for top executives, entrepreneurs and frequent international travellers who demand more sophisticated financial services and lifestyle privileges.

Beyond payments, holders of the Visa Signature card will enjoy premium benefits including access to airport lounges, concierge services, exclusive offers from partner merchants and emergency assistance services across several destinations globally.

She disclosed that while the Visa Value Naira Debit Card can be issued instantly at any FirstBank branch, the Visa Signature card has a delivery timeline of no more than 48 hours.

“The Naira Visa card is instant as you walk into any of our branches, while the Visa Signature card takes about 48 hours at the longest,” she stated.

On transaction limits, she explained that the Visa Signature card currently comes with a spending limit of N3 million, although customers can request upward reviews based on their banking profile and needs.

The Visa Value Naira Debit Card, on the other hand, is aimed at mass-market consumers seeking reliable and convenient payment solutions for daily transactions.

The card runs on Visa’s global payment infrastructure and can be used across ATMs, Point of Sale terminals and online platforms both locally and internationally.

Ndu-Okereke noted that the product was specifically designed to deepen financial inclusion and accelerate the transition from cash-based transactions to electronic payments.

“The Naira debit card is designed to deepen access into the financial ecosystem. It helps customers with day-to-day services and works in various destinations,” she added.

Also speaking at the event, Andrew Uaboi, Vice President and Cluster Head for West Africa at Visa, said the collaboration with FirstBank reflects both organisations’ commitment to developing products that respond directly to customer realities and evolving payment preferences.

According to him, the products were built after carefully studying the financial journeys of different categories of consumers.

“The partnership between Visa and FirstBank demonstrates that we are sensitive to customer needs. We took into account the diverse expectations of customers and designed products around what they actually require,” Uaboi said.

He explained that while the Visa Signature card caters to customers seeking premium experiences such as lounge access and emergency medical assistance, the Visa Value Naira Debit Card is targeted at customers who are gradually embracing digital payment platforms.

“The Naira debit card is for customers to gain access to Visa platforms because we understand their financial journey and the products they might need at different stages,” he added.

In his remarks, Seyi Oyefeso, Executive Director for Retail Banking South at FirstBank, described the new products as strategic additions to the bank’s expanding retail portfolio.

He said the Visa Signature card was specifically tailored for affluent clients seeking global access, premium banking experiences and enhanced convenience, adding that the initiative aligns with FirstBank’s commitment to innovation and customer-focused banking solutions.

Industry stakeholders say the launch signals increasing competition among financial institutions to deliver more personalised payment solutions as Nigeria’s digital banking ecosystem continues to evolve rapidly.

Also present at the launch were Babatunde Aribido, Director of Communications at Visa; Oluwatosin Afolayan, Senior Consultant for Product and Solutions; and Francisca Nwankwu, Director of Business Development at Visa.