Digital Payment Adoption Grows as SMEs Embrace FCMB Collect

First City Monument Bank has since strengthened its digital banking offerings with “FCMB Collect”, a digital collections and payment solution developed to help businesses digitise cashflow management and improve payment operations. The platform targeted at micro, small, and medium enterprises (MSMEs), including distributors, wholesalers, manufacturers, startups, schools, service providers, and online merchants seeking easier ways to manage collections and customer payments. 

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The bank said, “FCMB Collect reflects the increasing need for businesses to adopt technology-driven systems capable of supporting operational efficiency, business growth, and improved customer experiences in an increasingly digital economy”.

According to FCMB, the platform allows merchants to collect payments seamlessly through multiple channels without requiring complex integrations or advanced financial expertise, and to remove common barriers preventing small businesses from embracing a digital payment system. Some perks are that businesses can also generate invoices, track transactions, send debt reminders, reconcile payments, and monitor cash flow performance through a single dashboard.

Industry experts have continued to highlight the importance of digital financial solutions in helping Nigerian SMEs scale sustainably, particularly as businesses increasingly rely on online transactions, mobile payments, and automated financial systems to meet changing consumer expectations. 

The bank noted that FCMB Collect is also supporting stronger customer engagement by enabling businesses to send payment reminders and manage collections more professionally, ultimately improving customer trust and operational credibility. As part of its campaign strategy, the bank plans to deploy educational content, thought leadership initiatives, and merchant success stories to increase awareness about the benefits of digital collections and encourage adoption among growth-focused businesses across Nigeria.

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