KARACHI: Mastercard, a leading technology company in the global payments industry on Wednesday announced a strategic collaboration with Pakistan's NADRA technologies to optimize National ID cards with electronic payments functionality.
The move would allow Pakistani citizens to carry out financial transactions and receive government disbursements by utilizing the unique 13-digit identification number of their identity card, says statement released here.
The citizens would also be able to use their computerized national identity cards (CNIC) to send and receive domestic and international remittances. This would eliminate the requirement to physically visit a bank branch or currency exchange house to meet their money transfer needs.
Under the terms of the agreement, Mastercard would also use its next-generation payment processing technologies to process all online payments made by Pakistani citizens for the issuance of National ID cards, passports or any other document provisioned by National Data and Registration Authority (NADRA) technologies. The announcement was made during mastercard's participation in the World Economic Forum's annual meeting 2017; taking place from 17-20 January in Davos, Switzerland.
Aurangzaib Khan, Country Manager, Pakistan and Afghanistan, Mastercard, said, " Our collaboration with NADRA Technologies is a testament to our commitment towards building a reliable and secure ecosystem for online payments in Pakistan.
The new service would make international remittances more convenient both for the sender and beneficiary. This is significant since Pakistan is one of the top receivers of remittances from abroad.
Combining CNIC with payment features would transform it into a powerful, multi-purpose channel for citizens to carry out financial transactions, and would facilitate faster and more efficient delivery of vital government services.
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