JazzCash Encourages More Than 12,000 BISP Beneficiaries to Build a Habit of Saving Through the Hybrid Social Protection Scheme
More than 12,000 beneficiaries of the federal government’s Benazir Income Support Programme (BISP) have registered for the Hybrid Social Protection Scheme (HSPS) through JazzCash. The programme provides low-income households with a convenient, digital wallet-based way to develop a habit of saving and strengthen their financial security.
Beneficiaries can opt-in to HSPS when they visit their respective BISP Tehsil offices to collect payments. Agents explain the voluntary savings programme and, where a beneficiary chooses to participate, record their consent and complete the enrolment through the HSPS application.
Through the scheme, beneficiaries can deposit savings into their JazzCash wallets. The Government matches 40% of their quarterly savings, complemented by an additional 2% contribution from JazzCash. As part of BISP’s World Bank-funded Crisis Resilient Social Protection (CRISP) Programme, HSPS allows eligible beneficiaries to save PKR 1,500 or PKR 3,000 each quarter, either as a single payment or through smaller instalments.
Savings are held for two years, together with the contributions made by the Government and JazzCash, and can then be withdrawn to help beneficiaries manage unexpected expenses. Participation is voluntary, and beneficiaries may choose to exit the programme at any time by providing their consent. Those who do not make a savings contribution for three consecutive quarters are automatically removed from the programme.
Eligibility is determined through BISP’s National Socio-Economic Registry. HSPS is a federal government programme, with JazzCash serving as its sole implementation partner under an agreement with Mobilink Microfinance Bank Limited (MMBL).
Speaking on the milestone, Arif Mahmood Chaudhary, Head of Public Sector Partnerships at JazzCash, said: “HSPS demonstrates the impact that public-private collaboration can create in advancing financial inclusion. By combining BISP’s social protection mandate with JazzCash’s digital infrastructure, we are enabling underserved households to build savings habits and strengthen their financial resilience. We remain committed to supporting initiatives that expand access to secure and inclusive financial services for deserving communities across Pakistan.”
Through HSPS, BISP and JazzCash aim to make formal savings part of everyday financial life particularly for deserving women and transgenders, helping them move beyond short-term assistance towards lasting resilience and more meaningful participation in Pakistan’s formal economy.
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