Mastercard has recently announced its collaboration with NADRA to optimize National ID cards with electronic payments functionality.
It enables all Pakistani citizens to carry out financial transactions by only using their Computerized National Identity Cards.
The citizens would also be able to use their CNIC to send and receive domestic and international remittances.
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.
Easier to get remittances and do International Transactions:
The new service would make international remittances convenient both for sender and beneficiary. This is significant since Pakistan is one of the top receivers of remittances from abroad.
It merits mentioning here that Mastercard formally launched its operations in Pakistan just over two months ago, with the opening of a dedicated Mastercard office in Karachi.