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Nigeria's New Multipurpose Card Set to Revolutionize Digital Payments


Identity And Access Management

Multipurpose Card, Revolutionize, Digital Payments, Financial Services

The modern multipurpose card from Nigeria merges digital identification features with payment services thereby increasing national financial access and government service access without credit requirements.

The National Identity Management Commission (NIMC) introduced a new multipurpose card which will start a digital payment transformation in Nigeria. Through NIBSS partnership this digital payment system project expects to enroll 28 million Nigerians in its operations.

The integrated payment infrastructure of the new card will link Nigeria's digital identity management system to financial services alongside governmental transfers and social benefits. With an integration of biometric protection and both KYC facilities alongside offline payment functions the system enables access to remote areas where internet access is scarce.

A group of industry experts predicts the link between citizens' National Identification Numbers (NIN) and digital payment systems would dramatically boost financial inclusion rates. Through linked financial accounts the card provides better access to credit alongside enhancing government cash transfer transparency.

The cards require payment but multiple initiatives have been initiated to allow low-income Nigerians to obtain them through these programs.

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