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Saturday, October 05, 2013

Mastercard CFO meets President Jonathan, reassures on smart ID card commitment

ITRealms:

As MasterCard and partners advance plans to commence issuance of the newly approved smart national identity card to Nigerians in the next quarter, President Goodluck Jonathan recently held a meeting with the chief financial officer (CFO) of MasterCard, Ms Martina Hund-Mejean on the roll out plans.

ITRealms gathered that the meet between Nigerian President Jonathan and Mastercard CFO centred majorly on the roll out of the forthcoming ID project.

This meeting which took place as side exclusive at the New York Stock Exchange, ITRealms further learnt, afforded MasterCard leadership to reassure President Jonathan on the firm’s determination to deliver on the project as planned.

But responding to ITRealms chat, the Divisional President, Sub-Saharan Africa, MasterCard, Mr. Daniel Monehin, disclosed that they are oiling machines to issue the first set of this smart card by next quarter.

ITRealms recalls that echoes from the 2013 World Economic Forum on Africa showed that Nigeria may awarded contract for the provision of 13 million MasterCard-branded National Identity Smart Cards with electronic payment capability.

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 comprising 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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Pix: Martina Hund-Mejean, MasterCard Chief Financial Officer at the New York Stock Exchange, with President Goodluck Jonathan, at the meeting.

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