Smart Card Payment System Launched in Iraq
Johannesburg, South Africa-based Net1 UEPS Technologies has launched a smart card payment system in Iraq. Net1 has developed a platform for unbanked consumers called the Universal Electronic Payment System (UEPS).
Consumers are issued with biometric UEPS smart cards, so that they can have welfare payments and other fund transfers loaded onto their cards. They can then use the cards for purchases at POS terminals, authenticating themselves either with a PIN or at a fingerprint reader.
Net1 says that the first Iraqi UEPS transaction was performed on August 3, 2008, in Baghdad, during the launch of the UEPS smart card technology with two Iraqi state banks, Rafidain Bank and Rasheed Bank.
The launch, which was attended by executives from Rafidain Bank, Rasheed Bank, the Iraqi government, the War Victim Ministry and the Martyrdom Ministry, demonstrated smart card registration; biometric enrolment and issuing of UEPS cards; offline loading of wage payments and government grants to the UEPS cards; and dispensing of cash.
A pilot project involving 100,000 beneficiaries is now ready for implementation across selected Iraqi bank branches, Net1 says.
The pilot will enable the distribution and payment of government grants to war victims and martyrdom beneficiaries, as well as salary and wage distribution and payment to employees of the two state banks.
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Love like no one has ever hurt you,
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Sing like no one is listening,
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