ISLAMABAD: The Benazir Income Support Programme (BISP) has introduced a Social Protection Wallet for eligible women, offering a digital payment system designed to make financial assistance more secure, transparent and convenient.
The initiative aims to give women greater control over their funds while reducing the risk of exploitation during the payment process. Registered beneficiaries will be provided with a dedicated mobile SIM free of charge to access the service.
According to BISP Additional Secretary Ismat Nawaz, the new digital facility will provide women with greater financial independence and make it easier for them to manage their payments.
Under the Social Protection Wallet system, each eligible woman will receive a dedicated mobile SIM against her Computerised National Identity Card (CNIC). The digital wallet will be linked to that SIM.
BISP officials said the initiative was intended to give women greater freedom in accessing their financial assistance and reduce the possibility of exploitation by intermediaries.
Previously, beneficiaries used a limited-mandate account system under which funds had to be withdrawn within a specified period. If the money was not withdrawn within the deadline, it was returned.
Under the new system, beneficiaries will not face a fixed deadline for withdrawing their funds and will be able to use the money according to their needs.
Officials clarified that beneficiaries would not need a smartphone to use the Social Protection Wallet. The dedicated SIM can also be used in an ordinary feature phone, making the service accessible to women without smartphones.
The system also includes interoperability, allowing beneficiaries to access their funds through agents of different participating banks rather than being restricted to a single bank or agent.
To improve transparency, beneficiaries will receive a notification when money is transferred to their accounts, informing them that the funds have been credited.
Established in 2008, BISP has introduced various changes to its payment mechanisms over the years. The Social Protection Wallet marks another step towards digitising financial assistance and improving access to social protection for eligible women.
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