Partnership 2024
BISP has collaborated with Pakistan’s leading mobile banking service provider, JazzCash, to
facilitate BISP Kafalat beneficiaries in easily and digitally withdrawing their stipends. In line
with the Government of Pakistan’s vision of increasing financial inclusion, especially amongst. BISP and JazzCash’s Game-Changing.
BISP and JazzCash Working Together
BISP started in 2008 to financially assist poor families in Pakistan. Since then, BISP has been
bettering their payment systems to ensure timely payments to the beneficiaries. JazzCash,
operating one of the largest networks of agents and franchises all over Pakistan, is an ideal
partner for such a venture for BISP.
Benefits of BISP and JazzCash Partnership
Helping Women: This partnership is important to promote financial inclusion, specifically
women’s financial inclusion.
Quick Payments: JazzCash’s wide network enables more than 1.3 million beneficiaries to
access payments quickly and easily.
to the intended recipients!
How Payments Will Be Made
JazzCash will be using its expansive network to disburse funds to BISP beneficiaries – thismeans it will be using agents such as local stores so that there are multiple locations where
beneficiaries can access their cash. BISP and JazzCash’s Game-Changing. In addition, since the disbursing entity has chosen to include
biometric verification, payments would likely have been made to the right people.
Helping Women with Money Matters
JazzCash is working on increasing access to financial services for women while BISP is working
on creating a safety net for the most vulnerable at the bottom of the pyramid. JazzCash intends to
work on issues concerning Point of Sale (POS) agents and explore the possibility of introducing
its secure payment infrastructure, which will give users more channels for withdrawal, reducing
their reliance on POS.
Conclusion:
The collaboration between BISP and JazzCash will make a huge difference in facilitating the
eligible citizens of Pakistan, specifically women to receive their financial aid easily. JazzCash
through its vast network and secure technology ensures that the beneficiaries get their funds on
time without any delays. They will improve women’s access to financial services additionally
cut down payment delays. In summation, this collaboration will go a long way in improving the
lives of many deserving families.
FAQs:
- What is the objective of the partnership between BISP and JazzCash?
The partnership’s goal is to facilitate the Kafalat beneficiaries for easy, quicker, secure
and convenient access to their financial assistance through a digital mechanism. The
collaboration aims at improving women’s financial inclusion.
- How do the payment processes JazzCash is implementing?
JazzCash will use its agent network along with BISP experience to make payments. They
will be using local convenience stores for easy cashout and introducing biometric
verification to avoid duplication and also ensure the person coming to draw money is the
actual recipient. - How does this partnership benefit women?
The partnership is aimed at financial inclusion, with focus on women, and making
financial services more easily available. JazzCash’s extensive network and safe systems
will ensure that women beneficiaries have increased options and convenience in
accessing their funds thus improving their financial independence. - What Security protection does apply to make secure transactions?
The security protection will be applied to verify and send payment directly based on the
biometric Verification. This ensures that funds are sent to the right people, and reduce
substantial fraud as well as ensuring that aid is reaching people who need it.
