Islamabad:In a significant step towards enhancing financial inclusion and improving service delivery for women beneficiaries, the Benazir Income Support Programme (BISP) Thursday signed agreements with 1LINK and partner banks to operationalise an interoperable digital wallet payment system, enabling beneficiaries to access their stipends more conveniently across Pakistan.
The signing ceremony was held at BISP Headquarters and was chaired by Chairperson BISP, Senator Rubina Khalid. The event was attended by senior representatives of the State Bank of Pakistan, all private banks and the World Bank. Speaking on the occasion, Rubina described the initiative as a transformative reform that places beneficiaries at the center of the payment system.
She said the new arrangement will significantly improve the payment experience for millions of deserving women by providing greater convenience, accessibility, transparency, and choice. She said that, in line with the vision of the President Asif Ali Zardari, to ensure dignified and hassle-free payments, BISP has successfully introduced a system that empowers beneficiaries to receive their financial assistance with dignity and ease.
Under the new interoperable payment mechanism, stipends will be credited directly into beneficiaries’ digital wallets. Women beneficiaries will then be able to withdraw their payments from the nearest retailer or agent of any participating bank across Pakistan, regardless of which bank issued the payment. The system will gradually become the primary channel for BISP disbursements nationwide.
Rubina noted that the digital wallet system will eliminate many of the challenges historically faced by beneficiaries, including long queues, unnecessary travel, overcrowding at payment sites, and limited payment access points.
The chairperson thanked 1LINK, partner banks, the State Bank of Pakistan, and development partners for their support in implementing the reform. She emphasized that more than 10 million beneficiary families stand to benefit from the new payment ecosystem.
