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.”

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This is the same company who had launched Mobile Point of Sale in 2015 in association with Habib Bank Limited.

The Master Card of office was established in Karachi. The company aims to make its business strong and stable in Middle East and African regions.

MasterCard that is a technology company in the global payments industry is going to provide people of Pakistan wider range of payment services. It will provide services like debit cards, credit cards, prepaid offers, MasterCard Payment Gateway Services, MasterCard Rewards Solutions and digital payment solutions through its newly-established dedicated office. The company knows how to satisfy their customers as company is stable in Middle East since the 1990s.

The master card has 17 issuers who are availing both services the credit and debit card services. Not just this but MasterCard also has launched a first interoperable digital payment service. This service allows the users to send a wider range of money through their mobiles that means transfer of money is just one click away. It is very secure operating system and is reliable.

The MCB Bank and Bank Alfalah are the banks having the facilities provided by MasterCard. Meezan Bank is heard to be the next authority which could deal with MasterCard, but at a smaller level with less range of amount. This is the facility that could be availed be small business men across Pakistan.

This is a versatile way of transaction of money that makes it easy for business men to deal in greater amount of money with greater benefits and less loss.

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