The Nigerian government would like a better traceability of all financial transactions and to do so, it is suggesting the creation of a new generation of national ID cards that would be all the while debit/credit cards.
The cards will have two main roles, cash withdrawal and potential bureaucratic problems. It would require a confidential code, biometric information on the electronic chip and to connect all the data on the user’s bank account. The goal is alleged to give better traceability to virtual money and to secure it, but more importantly to force 70% of the Nigerian population who does not have a bank account to create one…
13 million cards will be released by Access Bank with the collaboration of the American company MasterCard as a roll-out test. If all goes well and the tests are successful, another 120 million cards will be released.
Mastercard made the announcement at the World Economic Forum held last week at Cape Town, South Africa.
What do YOU think of these Bank-ID cards?