September 10, 2023
Banking Pakistan

Digitt+ Pakistan granted pilot launch approval by SBP

Digitt+, Pakistan’s first agriculture concentrated Fintech, declared openly that the State Bank of Pakistan has formally awarded it permission to pilot blast off their Electronic Money Institution (EMI). Digitt+ is powered by Akhtar Fuiou Technologies (AFT).

Digitt+ is devoted to digitizing the farming ecosystem, proposing economic inclusion to growers and unbanked populace through its technology, partnerships, and relationships with agribusinesses and FMCGs in Pakistan.

Digitt+ has partnered with FuiouPay, an ultimate global expenditure explanations provider, to furnish a market-based option to the conventional banking strategy. FuiouPay proposes holistic enabling explanations through their seventy five academic possessions permissions and several patented software.

Qasim Akhtar Khan, Founder and Chief Strategy Officer at Digitt+ chatted about the ranking and probable of the happening:

“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.”

Pakistan has been a farming powerhouse for decades. Agriculture employs almost half of the country’s workforce and contributes about 25% to GDP. Despite its size and prominence, the sector does not have commensurate access to financial services from the banking system. Furthermore, recent climate change has devastated farmers and deeply impacted their production, thus making access to financial technology all the more important. Such services can provide much-needed access to formal banking channels and donor agencies to support farmers in adapting to climate change.

“At Digitt+, we are using technology to develop innovative digital financial products focusing on micro services to build a comprehensive platform that 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 specialised business tools.” added Ahmed Saleemi, CEO of Digitt+, giving further insight on how the company would unlock the potential of the Agri economy.

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