MasterCard, eight banks set for national ID project

With preparations now at its peak for the National Identity Number (NIN) project piloted by the National Identity Management Commission (NIMC), technology provider to the project, MasterCard, recently restated its commitment to accelerating the process.

The pilot phase is expected to provide at the initial stage, 13 million MasterCard-branded National Identity Smart Cards with electronic payment capability.

The project has Access Bank Plc as pilot issuer bank for the cards, and Unified Payment Services Limited (Unified Payments) as the payment processor. Other issuing banks include United Bank for Africa, Union Bank, Zenith, Skye Bank, Unity Bank, Stanbic IBTC, First Bank and others currently signing on.

Addressing newsmen in Lagos, MasterCard’s Vice President and Area Business Head, West Africa, Omokehinde Ojomuyide said the involvement of the company was to ensure the cards are well secured and globally acceptable, adding that “MasterCard is also saddled with the responsibility of deepening financial inclusion and promoting the cash-less initiatives.”

Ojomuyide, while denying allegations that MasterCard cornered the entire contract, said the company decided to base its operations in the country, given the strategic importance of the country in the continents numerous opportunities for business and growth.

According to her, the institution has identified with the country’s financial inclusion and cash-less initiative, which seek to reduce the number of the unbanked and reduce the costs associated with cash transactions.

She said MasterCard’s experience for over 40 years of its existence would be brought to bear on the provision of services that will ensure the country financial system’s aspirations, by making payments simple, safe and smart.