The Benazir Income Support Program (BISP) has recently enhanced its payment distribution capabilities by adding six additional banks to its network, including a strategic partnership with JazzCash. This initiative aims to facilitate easier access for beneficiaries across Pakistan to withdraw their payments conveniently.
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BISP has integrated with JazzCash to streamline payment disbursements, leveraging JazzCash’s extensive network for efficient fund distribution.
Partnership with JazzCash for Payment Disbursement
JazzCash, Pakistan’s largest fintech company, has been selected as one of the key financial institutions to collaborate with BISP. This partnership focuses on empowering marginalized communities, particularly women, through accessible digital financial services.
Statements from Aamir Ibrahim, CEO of Jazz
Aamir Ibrahim highlighted that through this collaboration, JazzCash aims to improve the economic well-being of Pakistani women. By utilizing JazzCash’s network, they seek to enhance financial inclusion and contribute to the financial empowerment of BISP beneficiaries.
Quick Details
- Beneficiaries: Over 1.3 million recipients will receive payments through JazzCash.
- Payment Structure: BISP will distribute Rs. 10,500 per quarter to approximately 9 million women over three years.
- Duration of Partnership: The partnership between BISP and JazzCash spans three years, focusing on biometrically enabled services for easier cash withdrawals.
Expansion Across Pakistan
The collaboration targets prompt fund distribution across various districts in Pakistan, including:
- Sindh: Sanghar, Nawabshah, Mirpurkhas, Tharparkar, Matiari, Umerkot, Sujawal, Tando Allahyar, Tando Mohammad Khan, Hyderabad
- Balochistan: Kharan, Chagai
- Punjab: Rahim Yar Khan
- Khyber Pakhtunkhwa: Malakand
Addressing Payment Deduction Issues
To enhance the payment process, BISP and JazzCash will address concerns related to payment deductions by Point of Sale (POS) agents, ensuring a smoother transaction experience for beneficiaries.
FAQs
Q: How many beneficiaries will JazzCash support? A: JazzCash will facilitate payments for over 1.3 million BISP beneficiaries.
Q: What is the payment structure under BISP? A: Each beneficiary will receive Rs. 10,500 per quarter for three years.
Q: Which districts will benefit from the JazzCash partnership? A: The partnership aims to distribute funds across various districts including Sanghar, Kharan, Rahim Yar Khan, Malakand, and others.
Conclusion
The collaboration between JazzCash and BISP marks a significant step towards enhancing financial inclusivity in Pakistan. By leveraging JazzCash’s extensive reach and digital capabilities, the partnership aims to streamline the Kafalat payment process, ultimately benefiting marginalized women and fostering social upliftment across the nation.
