First Bank of Nigeria and Visa have launched two new payment cards targeting premium and mass-market customer segments in Nigeria.
Visa Signature Card targets higher-income customers, while the Naira Visa Debit Card is positioned for everyday banking use, together forming a two-tier strategy to extend card-based payment adoption across income groups.
Multi-currency functionality and premium features
The Visa Signature Card carries multi-currency functionality, enabling automatic switching between the NGN, the USD, the GBP, and the EUR based on transaction location. The card includes a daily transaction limit of approximately USD 2.190 (NGN 3 million), adjustable upon customer request, and comes with a delivery window of 24 to 48 hours depending on location.
Additional features attached to the Visa Signature Card include 24/7 concierge services, international airport lounge access, travel insurance coverage, and emergency medical assistance, representing a package directed at customers with frequent international travel and cross-border spending requirements.
Both cards use chip-and-PIN technology to address transaction security and fraud risk.
Mass-market accessibility and branch availability
The Naira Visa Debit Card is designed for wider accessibility, available for instant issuance at FirstBank branches across Nigeria at a regulated fee of approximately USD 0.73 (NGN 1.000). The card provides domestic and international payment access through the Visa network, extending digital payment reach to customers at lower price points.
Nigeria's payments sector has seen sustained growth in card issuance and digital transaction volumes in recent years, supported by regulatory efforts from the Central Bank of Nigeria to formalise electronic payments and reduce cash dependency. The dual-card launch aligns with that broader trajectory, with both products operating on Visa's global acceptance infrastructure.
Strategic positioning
For FirstBank, the product rollout forms part of a wider push to deepen its digital banking offer. For Visa, the partnership reinforces its presence in West Africa's largest economy, where financial inclusion and card penetration remain active areas of commercial and policy focus.
In addition, both organisations noted at the launch event that the collaboration is intended to reflect the range of customer financial needs, from everyday local transactions to international travel and multi-currency spending, within a single institutional partnership.
The new cards are available to FirstBank customers through existing branch channels, with the Visa Signature Card subject to the delivery timeline noted above.
