May 30, 2014 -
According to a report in Finchannel.com, through this project, the Bank of Punjab will issue biometric payment cards to citizens, which can be used for transactions as well as pension, payroll, education, micro-lending and healthcare.
This initiative is based on some of the work MasterCard did in South Africa with the South African Social Security Agency. According to the Finchannel report, since its launch in 2012, ten million SASSA MasterCard debit cards have been issued for biometric grant payment disbursement.
Reported previously in BiometricUpdate.com, the South African project was rolled out in phases and had a list of participating retail outlets at which people could use the cards.
MasterCard now has a number of active projects including biometric identification. Last year, the Nigerian National Identity Management Commission and MasterCard jointly announced the introduction of 13 million MasterCard-branded National Identity Smart Cards, which also included payment capabilities.
MasterCard also recently joined the FIDO Alliance.