Identity card payment soon available in Nigeria

May 20, 2013

It will soon be possible to pay with an identity card in Nigeria, MasterCard announced at the African edition of the World Economic Forum, which took place in Cape Town last week.

It will soon be possible to pay with an identity card in Nigeria,
MasterCard
announced at the African edition of the World Economic Forum, which took place in Cape Town last week.

MasterCard and the Nigerian National Identity Management Commission have indeed entered a partnership to create 'smart' national identity cards.

In addition to their primary function of identification, these cards can also be used as a prepaid payment tool and the holder may deposit funds, receive benefits and pay for goods at
any of the 35 million MasterCard acceptance locations globally.

It will also be possible to withdraw money from any ATM that accepts MasterCard or perform one of many other financial secure transactions facilitated by electronic payments, according to MasterCard.

Thirteen million of these hybrid cards will be issued by the Nigerian bank Access Bank for a pilot experiment next year, followed by more than 100 million more if the system proves successful.

The smart ID cards have a PIN, but also biometric information on a chip, while being connected to the bank account holder.
The government sees in this payment system, which overcomes the physical currency, a solution to gain traceability and security.

"In addition to the various functionalities of a Smart ID, the scheme will allow Nigerians, 70 percent of whom currently having no

bank
account, to participate in the global economy,” said a MasterCard official quoted by Le Monde.ADNFCR-2976-ID-801586793-ADNFCR