New mode: BISP eyes biometric coverage by end-2017
After the approval, the project management will start the process of hiring new payment agencies
After the approval, the project management will start the process of hiring new payment agencies. PHOTO: APP
ISLAMABAD:
The Benazir Income Support Programme (BISP) will begin implementing its new biometric payment mechanism across the country by December next year.
The decision was taken on Monday during the 27th board meeting of BISP in which the members also approved the concept and design of the new payment model and ordered the authorities concerned to submit it to the finance division as soon as possible.
BISP is shifting all modes of payments – via mobile phones, Benazir Debit Cards and Pakistan Post – to biometric verification system in three phases, starting from September this year.
A BISP official, who wished not to be named, said: “The new payment system is aimed at excluding the middleman.”
At present, he said, the system has been introduced in a few districts, but the new mode of payment would be introduced all over the country by the end of 2017.
“After the introduction of biometric system, almost 98 per cent of BISP beneficiaries will be able to receive payments while people who are missing their thumbs or have weak thumb impressions will get personalised ATM cards,” said the official.
Detailing problems faced by beneficiaries, he said: “The new payment system will address the issue of loss of debit cards and /or forgetting ATM pin code. There were few beneficiaries who lost their debit cards and to get a new one they had to wait a long time,” he said.
The official said that the BISP will submit the new payment model to the Finance Division for approval. After the approval, the project management will start the process of hiring new payment agencies.
A communique stated that the new payment system would enhance financial inclusion through provision of regular bank accounts besides increasing payment points in rural areas.
BISP’s budget for fiscal year 2016-17 amounting to Rs115 billion was also presented during the meeting which was later referred to the Programme Design Committee and Finance Committee of the board for further deliberations.
Published in The Express Tribune, September 27th, 2016.
The Benazir Income Support Programme (BISP) will begin implementing its new biometric payment mechanism across the country by December next year.
The decision was taken on Monday during the 27th board meeting of BISP in which the members also approved the concept and design of the new payment model and ordered the authorities concerned to submit it to the finance division as soon as possible.
BISP is shifting all modes of payments – via mobile phones, Benazir Debit Cards and Pakistan Post – to biometric verification system in three phases, starting from September this year.
A BISP official, who wished not to be named, said: “The new payment system is aimed at excluding the middleman.”
At present, he said, the system has been introduced in a few districts, but the new mode of payment would be introduced all over the country by the end of 2017.
“After the introduction of biometric system, almost 98 per cent of BISP beneficiaries will be able to receive payments while people who are missing their thumbs or have weak thumb impressions will get personalised ATM cards,” said the official.
Detailing problems faced by beneficiaries, he said: “The new payment system will address the issue of loss of debit cards and /or forgetting ATM pin code. There were few beneficiaries who lost their debit cards and to get a new one they had to wait a long time,” he said.
The official said that the BISP will submit the new payment model to the Finance Division for approval. After the approval, the project management will start the process of hiring new payment agencies.
A communique stated that the new payment system would enhance financial inclusion through provision of regular bank accounts besides increasing payment points in rural areas.
BISP’s budget for fiscal year 2016-17 amounting to Rs115 billion was also presented during the meeting which was later referred to the Programme Design Committee and Finance Committee of the board for further deliberations.
Published in The Express Tribune, September 27th, 2016.