A pilot project to use the ID card in financial transactions has been successful, a top official told
The trials have proved that the ID card can be used as bank cards at bank machines at point of sale terminals — retail points where bank cards are used to purchase goods and services — and for online payments, said Dr
A recent test demonstration by
The trial confirmed that the ID card could be used on a point of sale transaction terminal,
The trial has also proved that the transaction using ID card guaranteed maximum security through authentication using card holder's biometric details.
A test identity card loaded with a financial application was successfully used for a purchase at a point of sale terminal, following a memorandum of understanding signed between the Emirates ID and the
The bank has announced that the service will be ready within one year.
"Now the pilot results have proved that Emirates ID's digital infrastructure is ready to roll out this service and it is up to the financial service providers including the banks to utilise this opportunity for their customers,"
It will be optional for
Once bank cards are integrated with ID card, Emirates ID cannot access the financial data of customers at all.
An ATM card or credit does not carry any financial data of the customer but identification details of customer only to ascertain his or her identity. Basically what a bank card does is identifying the customer at an ATM [machine] or a credit card terminal and link him or her to the financial data [balance in account stored in bank's system.}
The bank cards do not carry such financial data but the bank's system does.
Bank card's function is identifying the customer only, which can be offered by national ID card, he explained.
The first advantage is customers can avoid carrying multiple cards and remembering personal identification numbers (PIN). The financial institutions can save expenditure on manufacturing plastic cards and their transportation and delivery. Some 10.4 million debit and credit cards were in circulation in the
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