As part of the program, in its first phase, Nigerians 16 years and older, and all residents in the country for more than two years, will get the new multipurpose identity card which has 13 applications including MasterCard’s prepaid payment technology that will provide cardholders with the safety, convenience and reliability of electronic payments. This will have a significant and positive impact on the lives of these Nigerians who have not previously had access to financial services.The program is also designed to move Nigeria into a cashless society, one that is dependent on financial institutions, Wall Street and the Nigerian government. It will be managed by the financial elites of Wall Street, technocrats and of course Washington. All forms of financial transactions would be exchanged through plastic credit and debit cards that would have implanted RFID chips. Michael Miebach, President of the Middle East and Africa division at MasterCard supports the Nigerian government’s decision for a new cashless society, “Today’s announcement is the first phase of an unprecedented project in terms of scale and scope for Nigeria,” said Michael Miebach | Global Research
Ghana Business News » Achieving cashless society is possible – Ghana Commercial Bank
Mr Simon Dornoo, Managing Director of Ghana Commercial Bank (GCB), said he envisions a society where goods and services are paid for by cards, electronic fund transfers or online rather than with cash or cheque.Nigeria to issue ID payment cards | TechCentral
Nigeria’s National Identity Management Commission (NIMC) will issue 13m MasterCard-branded and payment-enabled national ID smart cards as part of a pilot programme. This programme is the largest ever roll-out of a formal electronic payment solution in Nigeria.Pros & Cons of Biometrics and a Cashless Society
In the first phase of the programme, Nigerians aged 16 and over, and all residents who have been in the country for more than two years, will get the new cards.
Until President Richard Nixon took the United States off the gold standard in the 1970s, American cash was redeemable for gold or silver. Currently, the U.S. is on a system using fiat currency via the Federal Reserve, as the value of money is based on faith in government and law. While the Federal Reserve maintains control of the physical cash system, some powerful industry forces are trying to change that.» Cashless Society: India Implements First Biometric ID Program for all of its 1.2 Billion Residents Alex Jones' Infowars: There's a war on for your mind!
Cash has not yet disappeared from everyday life, but the world’s largest information technology and financial companies are working on ways to completely replace it with wireless communication payments to be made from smartphones. And some companies – such as IBM – want to take it a step further and link those wireless payments to biometric signatures to prevent your account from ever being a victim of identity theft.