In line with its agreement with the National Identity Management Commission (NIMC), MasterCard incorporated Tuesday disclosed that it would commence the pilot phase of the rollout of 13 million national identity smart cards before the end of the year.
The Vice President and Area Business Head of West Africa, MasterCard, Ms. Omokehinde Ojomuyide, disclosed this at a media briefing in Lagos.
The programme, which also supports the cashless policy had been described as the largest rollout of a formal electronic payment solution in Nigeria as well as the broadest financial inclusion initiative in the continent.
Ojomuyide said: “Initially, there were seven to eight banks, but now they are 14 banks and before it comes to an end, the plan is that every Nigerian bank would be able to issue cards as it would not be exclusive to a particular bank.
“That is why we see the number increasing and it is going to take the Wisdom of Solomon for them to manage which bank gets which customer because the banks would want to get the citizens.”
Ojomuyide further explained that the plan was that registration centres would be allocated to banks.
“What NIMC is doing is to harmonise the banking services across board for the national identity card, so there isn’t a competitive advantage because the account are enabled by the government and also I point out it is separate from your account and you can’t merge because it is a prepaid card and is not linked to your account,” she added
She further expressed optimism in the project saying MasterCard fully supports the cashless policy of the Central Bank of Nigeria (CBN) and would continue to work with the government and various financial sector players to introduce payment solutions that enhance the uptake of cashless transactions, which are the conduit through which financial inclusion for the country’s unbanked and under-banked.”
The Vice President and Area Business Head of West Africa, MasterCard, Ms. Omokehinde Ojomuyide, disclosed this at a media briefing in Lagos.
The programme, which also supports the cashless policy had been described as the largest rollout of a formal electronic payment solution in Nigeria as well as the broadest financial inclusion initiative in the continent.
Ojomuyide said: “Initially, there were seven to eight banks, but now they are 14 banks and before it comes to an end, the plan is that every Nigerian bank would be able to issue cards as it would not be exclusive to a particular bank.
“That is why we see the number increasing and it is going to take the Wisdom of Solomon for them to manage which bank gets which customer because the banks would want to get the citizens.”
Ojomuyide further explained that the plan was that registration centres would be allocated to banks.
“What NIMC is doing is to harmonise the banking services across board for the national identity card, so there isn’t a competitive advantage because the account are enabled by the government and also I point out it is separate from your account and you can’t merge because it is a prepaid card and is not linked to your account,” she added
She further expressed optimism in the project saying MasterCard fully supports the cashless policy of the Central Bank of Nigeria (CBN) and would continue to work with the government and various financial sector players to introduce payment solutions that enhance the uptake of cashless transactions, which are the conduit through which financial inclusion for the country’s unbanked and under-banked.”
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