Pakistani Citizens can now use their identity cards to conduct financial transactions and receive government disbursements as well as remittances. Mastercard partnered with Nadra is expanding financial inclusion in Pakistan by optimizing National ID cards with e-payment functionality.
Mastercard, who entered the Pakistani market last year, announced today a strategic collaboration with NADRA to optimize National ID cards with electronic payments functionality. The move will allow Pakistani citizens to carry out financial transactions and receive government disbursements by utilizing the unique 13-digit identification number of their identity card.
The Pakistani citizens will also be able to use their National ID to send and receive domestic and international remittances. This service will 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 will 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 NADRA Technologies.
Talking about the new service Aurangzaib Khan, Country Manager of Pakistan and Afghanistan, Mastercard, 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.”