MasterCard to join hands with NADRA Technologies to optimize Pakistani National ID cards with electronic payments.
This strategy aims to enable Pakistanis to make financial transactions and also to receive government disbursements with the identification number of the ID card.
Now people can send or receive domestic and international remittances simply with the ID cards.
This means that there is no requirement to go to bank or currency exchange house and waiting for your turn. The needs can be met with use of ID card.
According to the terms of agreement of MasterCard is to use the next-generation payment processing technologies to work o all sorts of payments made by people of Pakistan. This will be done by issuance of National ID cards, passports or any other document provisioned by NADRA Technologies.
World Economic Forum Annual Meeting 2017 was held kn Davos, Switzerland. The meeting is planned to be from 17-20 January 2017. During the meeting this strategic program was announced.
According to news the MasterCard’s Country Manager for Pakistan and Afghanistan has said, “The new service will make international remittances more convenient both for the sender and beneficiary, and this is significant since Pakistan is one of the top receivers of remittances from abroad.”
He further said,
“Combining the National ID card with payment features will transform it into a powerful, multi-purpose channel for citizens to carry out financial transactions, and will facilitate faster and more efficient delivery of vital government services.”