Digitt+ Pakistan’s first agriculture focused Fintech announced that the State Bank of Pakistan has formally granted the approval to pilot launch their Electronic Money Institution (EMI). Digitt+ is powered by Akhtar Fuiou Technologies (AFT).
The agriculture sector plays a key role in the development of nations. It not only contributes to poverty reduction and economic growth. Rapidly evolving technologies are paving the way to reduce risk and expand agricultural productivity cost-effectively. At the same time, many obstacles aren’t technological, which emphasises the importance of strategically made investments to improve outcomes for the agricultural households.
Pakistan is a nation that highly depends on the agricultural sector. Over half the workforce is employed in the sector that boasts over 25% of the nation’s GDP contribution. However, despite the size and prominence, the lack of proper access to financial services from the banking sector significantly impacts farmers nationwide. It has made access to fintech even more critical than ever before.
Likewise, climate change has also devastated farmers, affecting their productivity profoundly, hence highlighting the necessity of accessing financial technology. It is imperative that such financial services are available to facilitate access to formal banking channels and donor agencies to support climate change adaptation among farmers
Digitt+ is committed to digitising the agricultural ecosystem, offering financial inclusion to farmers and unbanked people via its technology, partnerships, and relationships with agribusinesses and FMCGs in Pakistan.
To provide customers with a market-based alternative to traditional banking, Digitt+ has partnered with FuiouPay. A total of 75 patents and 75 intellectual property licenses enable FuiouPay to provide holistic business-enabling solutions.
Courtesy Express Tribune