Six more banks have joined Pakistan’s Benazir Income Support Program, which aims to simplify the country’s BISP Kafalat payment disbursement process. Popular transaction company Jazzcash will make it simple for beneficiaries to withdraw money from their accounts.
BISP Partnered With JazzCash For Payment Disbursement
The largest fintech business in Pakistan, JazzCash, has been chosen to work with the Benazir Income Support Program (BISP) to distribute monies with the goal of empowering vulnerable communities—women in particular—through financial distribution.
1.3 Million Beneficiaries Will Receive Payment Through JazzCash
By collaborating with six additional banks, each of which holds a particular quantity of Beneficiaries Payment, the Benazir Income Support Program has increased the size of its payment system. With its statewide network of agents and stores, JazzCash has committed to distributing payments to 13 lakh beneficiaries, giving over 1.3 million recipients access to cash.
| Topic | Details |
|---|---|
| Partnership Announcement | JazzCash partners with BISP to streamline Kafalat payment disbursement for 1.3 million beneficiaries. |
| Beneficiaries | 1.3 million beneficiaries, particularly women, will receive payments through JazzCash. |
| Duration | Partnership will provide Rs. 10,500 per quarter to over 9 million women for three years. |
| Districts Covered | Sindh, Balochistan, Punjab, Khyber Pakhtunkhwa, Sanghar, Kharan, Rahim Yar Khan, Malakand, Nawabshah, Chagai, Mirpurkhas, Tharparkar, Matiari, Umerkot, Sujawal, Tando Allahyar, Tando Mohammad Khan, Hyderabad. |
Duration Of The BISP And JazzCash Partnership
Over 9 million women will receive financial help for three years from BISP, Pakistan’s social protection organization. Each woman will receive Rs. 10,500 every quarter, and JazzCash will use biometric services to make withdrawals simpler.
Districts Where The JazzCash Will Be Available In Pakistan
The partnership intends to promptly disburse financial resources to beneficiaries throughout Pakistan, with a specific focus on the districts listed below.
| Sindh | Balochistan | Punjab | Khyber Pkahtoon Kha |
| Sanghar | Kharan | Rahim Yar Khan | Malakand |
| Nawabshah | Chagai | ||
| Mirpurkhas | |||
| Tharparkar | |||
| Matiari | |||
| Umerkot | |||
| Sujawal | |||
| Tando Allahyar | |||
| Tando Mohammad Khan | |||
| Hyderabad |
Solving Matters Of Payment Deduction By POS Agents
Together, the BISP program and JazzCash are improving payment processes under their new payment model to lower POS agent complaints. The collaboration seeks to advance financial inclusion, dismantle obstacles, and offer fair chances to all, promoting social uplift and having a beneficial effect on the underprivileged.
Conclusion
The goal of the partnership between JazzCash and the Benazir Income Support Program is to increase financial inclusion in Pakistan. The alliance streamlines the Kafalat payment procedure and takes care of deduction difficulties while facilitating payments to 1.3 million recipients, notably underprivileged women.