Digitt+, Pakistan’s first agriculture-focused Fintech, today announced that the State Bank of Pakistan has formally granted it approval to pilot launch its Electronic Money Institution (EMI).
Powered by Akhtar Fuiou Technologies (AFT), Digitt+ is committed to digitizing the agricultural ecosystem, offering financial inclusion to farmers and unbanked people through its technology, partnerships, and relationships with agribusinesses and FMCGs in Pakistan.
Digitt+ has partnered with FuiouPay, a leading international payment solutions provider, to provide a market-based alternative to the traditional banking system. FuiouPay offers holistic enabling solutions through their seventy-five intellectual property licenses and several patented software.
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Qasim Akhtar Khan, Founder and Chief Strategy Officer at Digitt+, talked about the scale and potential of the venture, saying, “We look forward to providing financial technology solutions to the farmers of Pakistan who will be able to open bank accounts and gain access to credit and modern digital financial services such as bill payments, e-commerce, investments, and money transfers.”
“This effort has the potential to solve food security issues, enhance crop yields, and improve human welfare in Pakistan, directly impacting thousands of farmers and merchants,” he added.
Giving insight into how the company would unlock the potential of the Agri economy., Ahmed Saleemi, CEO of Digitt, said, “At Digitt+, we are using technology to develop innovative digital financial products focusing on microservices to build a comprehensive platform.”
“This will enable the delivery of these solutions to a wide range of users, not only for the retail Agri market but for the corporate sector as well, through the provision of specialized business tools,” he added.
Digitt+ is braced to embark on a mission to revolutionize the Agriculture FinTech sector in Pakistan. The approval from the State Bank of Pakistan is an important milestone in that direction.
