The National Database and Registration Authority (NADRA) Technologies has collaborated with Mastercard to optimize the national identity cards with electronic payments functionality.
The agreement was made during the World Economic Forum (WEF) meeting. The technology company in the global payments industry, Mastercard, participated in WEF meeting which is taking place at Davos from 17th to 20th January.
Under the agreement, the citizens will be issued a unique 13-digit identification number which will allow them to carry out financial transactions and receive government disbursements. Citizens will also be able to use their computerized national identity card (CNICs) to send and receive domestic and international remittances. This will eliminate the requirement to physically visit a bank branch or currency exchange house to meet their money transfer needs.
Mastercard will use its next-generation payment technologies to process the online payments made by Pakistani citizens in the issuance of CNIC, passport or any other document provisioned by NADRA. Mastercard’s country manager Pakistan and Afghanistan, Aurangzaib Khan said,
“Our collaboration with Nadra is a testament to our commitment towards building a reliable and secure ecosystem for online payments in Pakistan. The new service will 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 the national identity 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.”
This partnership is just the beginning of financial inclusion and digitization of the whole process, according to an official. The objective is to utilize NADRA database to streamline money transaction and bring transparency in the economic system.
