SBP Approves The Launch Of Pakistan's First Agri-Fintech App Digitt+

FuiouPay provides comprehensive enabling solutions through their seventy five intellectual property licenses and several patented software.

SBP Approves The Launch Of Pakistan's First  Agri-Fintech App Digitt+

The launch of Pakistan’s first agri-fintech app (AFT), Digitt+, powered by Akhtar Fuiou Technology, has been approved by the State Bank of Pakistan (SBP) .

Through its technology, partnerships, and relationships with agri-businesses and FMCGs in Pakistan, the application aims to digitise the agricultural ecosystem and provide financial inclusion to farmers and unbanked people.

To provide a market-based alternative to the traditional banking system, first agri-fintech app Digitt+ of Pakistan has partnered with FuiouPay, a leading international payment solutions provider. FuiouPay provides comprehensive enabling solutions through their seventy five intellectual property licenses and several patented software.

“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,” said Qasim Akhtar Khan, Founder and Chief Strategy Officer at Digitt+.

The approval from the State Bank of Pakistan is a significant step in that direction. This effort has the potential to address food security issues, increase crop yields, and improve human welfare in Pakistan, affecting thousands of farmers and merchants directly.

For decades, Pakistan has been an agricultural powerhouse. Agriculture employs nearly half of the country’s workforce and accounts for roughly 25% of GDP. Despite its size and prominence, the sector lacks equal access to financial services through the banking system.

“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 also for the corporate sector,” said Ahmed Saleemi, CEO of Digitt+.

FuiouPay is a payment processing platform developed by Fuiou, a Chinese financial technology company. It allows individuals and businesses to make and receive payments online, including through mobile devices. FuiouPay supports various payment methods, such as bank card payments, mobile payments, and online bank transfers.