Last Updated on: 10th July 2024, 10:33 pm
Benazir Income Support Program (BISP) has partnered with Pakistani fintech company JazzCash to improve the payment process for Kafalat beneficiaries, promote financial inclusion, especially for women, and ensure faster grants. BenazirKafaalat.pk
Collaboration Between BISP and JazzCash
Launched in 2008, the Benazir Income Support Program provides financial assistance to low-income families in Pakistan. Over the years, BISP has continuously worked to improve its payment methods to ensure timely disbursement of funds. JazzCash, a leading mobile banking service with an extensive network of agents and stores across Pakistan, is an ideal partner for BISP.
| Key Point | Related Details |
|---|---|
| BISP and JazzCash Partnership | Background on BISP and JazzCash
– BISP: Established in 2008, aids low-income families in Pakistan. – JazzCash: Wide network, suitable for optimizing BISP payments. |
| Collaboration Significance | Focus
– Emphasis on women’s financial inclusion. – Efficient payment distribution using JazzCash. – Biometric authentication for secure transactions. – Benefits: Over 1.3 million recipients. |
Important Features of the BISP Collaboration
JazzCash is collaborating with Women Empowerment to improve financial inclusion. The collaboration will leverage JazzCash’s extensive network for efficient payment distribution and biometric verification for secure transactions, benefiting over 1.3 million beneficiaries.
Also Read: BISP Chairperson Says: There’s a Zero Tolerance Policy for Beneficiary Disrespect
Transfer Method of BISP Kafalat Payment
JazzCash will leverage its extensive supply chain to distribute funds to BISP beneficiaries, using agents such as shops to ensure that recipients can easily access their funds. Biometric verification provides additional security and ensures that payments reach the right people.
Focus on Women’s Empowerment
JazzCash Collaboration: Empowering Women and POS Agents:
- JazzCash aims to improve women’s financial health by making financial services more accessible.
- BISP’s goals align with JazzCash’s focus on supporting people in need.
- JazzCash aims to address the challenges faced by POS merchants by creating a secure payment system.
- Users will have more withdrawal options available, reducing their dependence on POS agents.
Also Read: NBP to not give BISP installments to women taking loans
Last Words
The collaboration between BISP and JazzCash marks an important milestone in promoting financial inclusion among Pakistan’s poorest citizens. Leveraging JazzCash’s extensive network and innovative technology, BISP aims to ensure that beneficiaries receive their funds quickly and securely.