Digital Payment Solutions for BISP Beneficiaries
The Benazir Income Support Program (BISP), is one of Pakistan’s largest financial social safety initiatives. In the recent significant development, Senator Rubina Khalid, Chairperson of BISP, met with Karandaaz Pakistan’s Chief Digital Officer, Sharjeel Murtaza, and Associate Director, Usman Kokab, at BISP Headquarters regarding digital payment solutions for BISP.
The agenda of this meeting was transparency in delivering the money to beneficiaries. They also discuss the best solutions for BISP Beneficiaries.
Bilateral Talks with the State Bank of Pakistan On Digital Payment Solutions for BISP
Scheduled talks between the State Bank of Pakistan (SBP) and BISP are set to explore ways to improve transparency and digitalize payments for women beneficiaries. These digital payment solutions for BISP discussions aim to strengthen the program’s operational framework.
It ensures secure and dignified fund disbursements. Many women have to give the major amount of their money to the retailers which will be stopped due to the digitalization of the payment.
Why Digital Payment Solutions for BISP is Crucial
Digitalizing payments ensures timely delivery of funds while reducing the risks associated with manual cash disbursements like agents and middle men. For women beneficiaries, a secure and accessible digital payment system can eliminate hurdles such as delays, fraud and unauthorized access.
Implementation of the RAAST Payment System
One of the key agenda items of the meeting was the implementation of the RAAST payment system for the Digital Payment Solution, Pakistan’s first instant digital payment system.
Benefits of RAAST for BISP Beneficiaries
Secretary Amer Ali Ahmad’s Proposal
Amer Ali Ahmad suggested piloting the RAAST system with BISP’s partner banks, leveraging existing infrastructure to expedite the transition. This practical approach is expected to streamline processes and minimize potential teething issues during the payment.
He also said that this system will reduce the long lines of the women on the payment time. Many old age women will have so much benefit through it.
Biometric Verification for Women
To enhance the security of fund transfers, biometric verification was highlighted as a cornerstone of the updated payment mechanism. In the digital payment solutions for BISP, it was discussed that many funds were dissolved to wrong hands due to bad tracking systems. Some of the frauds are as follow:
How Biometric Verification Will Help
Senator Rubina Khalid emphasized the importance of transparency in fund distribution, stating that robust security measures like biometric verification reflect the program’s commitment to serving deserving families.
| Aspect | Description |
|---|---|
| Fraud Prevention | Protects beneficiaries from scams and impersonations. |
| Ease of Access | Simplifies fund withdrawal by linking payments directly to biometric data. |
| Enhanced Trust | Builds confidence, ensuring women receive funds with dignity and security. |
| Senator’s Statement | Senator Rubina Khalid highlighted transparency and security as vital for serving deserving families. |
Skill Development and Employment Opportunities
The meeting also touched upon skill training programs aimed at equipping women beneficiaries with the tools to achieve financial independence. Through this program many women will lead toward the self dependent and can help many other women also.
Connecting Women to Economic Opportunities
Senator Khalid highlighted the collaboration between BISP and Bank Alfalah’s Alfa Mall project in Karachi, which helps skilled women digitally market their products. This initiative aims to:
Conclusion
The Benazir Income Support Program remains steadfast in its mission to empower marginalized communities, especially women. By integrating cutting-edge digital payment solutions for BISP like RAAST and biometric verification, BISP is not only improving the efficiency of its operations but also setting a benchmark for transparency and dignity in social welfare programs. The skill development initiatives further underline its holistic approach to addressing poverty by equipping beneficiaries with tools for long-term self-reliance.