BISP Digital Transformation – RAAST and Mobile Wallet Launch

The Benazir Income Support Program (BISP) is taking a significant step forward in its digital transformation journey by introducing the RAAST system and mobile wallet payments. This initiative aims to modernize the financial aid distribution process, making it more efficient, secure, and accessible for millions of beneficiaries across Pakistan. In this article, we will explore how BISP is implementing RAAST and mobile wallets to ensure timely and transparent payments in 2025.

Table of Contents

What is RAAST?

RAAST is Pakistan’s first instant payment system launched by the State Bank of Pakistan (SBP). It enables secure, real-time digital transactions, providing a fast and reliable method for receiving and sending money. BISP has decided to leverage RAAST to distribute financial aid to beneficiaries, minimizing delays and ensuring that funds reach the right recipients without any intermediaries.

Key Features of RAAST:

Instant Payments: Transactions are processed in real-time, reducing waiting times.
Secure and Transparent: Each transaction is traceable, ensuring transparency and preventing fraud.
Low Transaction Costs: Beneficiaries can receive funds without paying high fees.
Mobile Wallet Integration: Payments can be received directly through mobile wallets, making access easier for those in remote areas.

BISP’s Mobile Wallet System

Alongside RAAST, BISP is introducing a mobile wallet system to provide beneficiaries with a simple, accessible way to receive payments. The mobile wallet will be linked to the beneficiary’s CNIC, allowing them to receive funds directly without visiting a BISP center. This system is expected to reduce overcrowding at BISP offices and minimize the risk of fraudulent claims.

Benefits of the Mobile Wallet System:

Easy Access: Beneficiaries can receive payments anytime, anywhere.
Secure Transactions: Biometric verification ensures that funds are disbursed to the correct recipients.
Financial Inclusion: Even those without a bank account can access funds through mobile wallets.
Transparency: All transactions are digitally recorded, reducing the chances of corruption or mismanagement.

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Key Stakeholders in the Digital Transformation

During the official meeting to discuss the BISP digital transformation, key stakeholders emphasized the importance of implementing RAAST and mobile wallets effectively. Participants included:

Senator Rubina Khalid: Chairperson BISP, highlighting the program’s focus on digital financial inclusion.
Sharjeel Murtaza: Chief Digital Officer at Karandaaz, discussing the integration of mobile wallets.
Inam ur Rehman Malik: DG CT at BISP, outlining biometric verification and data security measures.

Pilot Program Launch – Selected Regions

BISP will first implement the RAAST and mobile wallet system in seven low-workload regions as a pilot project. This phased approach will help identify potential issues, address challenges, and refine the system before nationwide expansion. The pilot regions will serve as test cases to assess system scalability, beneficiary response, and transaction efficiency.

Addressing Concerns and Challenges

Implementing digital payments comes with certain challenges, but BISP has developed strategies to address them:

Biometric Verification: All transactions will require fingerprint verification to prevent fraud.
Beneficiary Accessibility: Mobile wallets will be accessible even to those without smartphones, using basic feature phones.
Data Security: Robust encryption protocols will be employed to protect beneficiary information.
Scalability: The pilot phase will provide insights into expanding the system nationwide.

FAQs

1. How will beneficiaries receive payments through RAAST?

Beneficiaries will link their CNICs to mobile wallets and receive payments directly through the RAAST system.

2. Will the mobile wallet be mandatory for all beneficiaries?

Yes, during the pilot phase, beneficiaries in selected regions must register for mobile wallets to receive payments.

3. What if a beneficiary does not have a smartphone?

The mobile wallet can be accessed through basic feature phones, ensuring inclusivity.

4. When will the pilot program start?

The pilot phase is expected to launch in the second half of 2025.

5. How can beneficiaries register for the mobile wallet?

Detailed registration guidelines will be provided at BISP offices and through official SMS alerts.

Conclusion

The launch of RAAST and the mobile wallet system marks a significant step in BISP’s digital transformation strategy. By embracing digital payments, BISP aims to streamline financial aid distribution, enhance security, and promote financial inclusion for millions of underprivileged families across Pakistan. Stay tuned for further updates as the pilot program rolls out and more regions come under the digital payment umbrella.