Firstbank Nigeria last week launched a social electronic commerce system geared for businesses.

According to the bank, its new e-commerce system enables businesses to interact with potential customers while carrying out functions of online ordering and payment for goods and services.

The portal, which is also a self-service tool, further enables businesses set-up their online store, upload their products and interact with potential consumers.

Services present on the e-commerce system are expected to include retail, insurance products and e-ticketing solutions.

Online payment on the system will be processed by FirstEConnect, a payment gateway deployed by FirstBank.

FirstEConnect enables secure payments for goods and services through the use of all payment card types issued in the market today as well as enabling online ordering of products which will be delivered to the
doorsteps of customers.

According to Akin Fanimokun, head of technology and services at FirstBank, the ‘social commerce’ portal is planned to be a virtual meeting hub for businesses and SMEs who wished to showcase their services online.