Thursday, May 09, 2013

MasterCard to power 13m smart ID cards in Nigeria

Echoes from the 2013 World Economic Forum on Africa indicates that Nigeria may have award contract for the provision of 13 million MasterCard-branded National Identity Smart Cards with electronic payment capability.

This was announced Wednesday by the Nigeria’s National Identity Management Commission (NIMC) and MasterCard in South Africa, just as officials of MasterCard confirmed to ITRealms that the proposed National Identity SmartCard is the Card Scheme under the recently deployed National Identity Management System (NIMS).

Also, ITRealms gathered from proponents including Other issuing banks will include United Bank for Africa, Union Bank, Zenith, Skye Bank, Unity Bank, Stanbic and First Bank; that the 13 Million Cards would be the first of its kind and assumed to be the largest card rollout on the continent of Africa; a formal electronic payment solution in a country and the broadest financial inclusion initiative of its kind on the African continent.

ITRealms was informed that in its first phase, Nigerians 16 years and above as well as all residents in the country for more than two years, would get the new multipurpose identity card which has 13 applications including MasterCard’s prepaid payment technology that will provide cardholders with the safety, convenience and reliability of electronic payments.

This, the proponent said, would have a significant and positive impact on the lives of Nigerians who have not previously had access to financial services.

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