Akhtar Fuiou Technologies (AFT) and RapidCompute inked a Memorandum of Understanding (MOU) last week to deliver cloud-based technological solutions to help promote the digitalization of FMCGs and farm transactions. The relationship is in keeping with the State Bank of Pakistan’s goal of promoting mass financial inclusion.
AFT will be able to use Rapid’s certified secure cloud platform to offer cutting-edge financial solutions like QR payments, POS technologies, e-wallets, and cross-border payments. This will not only assure the protection of mission-critical data, but it will also be the most cost-effective solution for all parties involved.
The MoU saves AFT a lot of money on infrastructure and support expenditures, as well as shortening their time to market.
“Around 87 percent of Pakistan’s population is still unbanked, with rural areas accounting for the majority. The majority of the rural population works in agriculture or in the labour force, according to Shahzaib Khan, Regional Business Head, South & Central. ”
Despite the fact that they are unbanked, they are contributing to the shift in the financial landscape by using mobile wallet services such as Easypaisa and JazzCash. AFT and Rapid plan to use AFT’s e-wallet services to further penetrate this market. This is where the cloud comes in handy, since it provides scalability as well as security.
“Rapid’s cloud platform will allow AFT to extend its operations quickly while while guaranteeing that our people’s financial data is secure,” he added.
The Akhtar Group has partnered with China’s Fuiou Pay and JollyChic to form AFT. Their mission is to transform the country’s economic and technological environment, resulting in a rapid increase in the financial inclusion of the masses thanks to its worldwide reach and easy access to cutting-edge global technology.
“Rapid’s cloud platform will allow AFT to extend its operations quickly while while guaranteeing that our people’s financial data is secure,” he added.
The Akhtar Group has partnered with China’s Fuiou Pay and JollyChic to form AFT. Their mission is to transform the country’s economic and technological environment, resulting in a rapid increase in the financial inclusion of the masses thanks to its worldwide reach and easy access to cutting-edge global technology.
Domestic industries will find AFT’s e-wallets to be a highly useful platform for digitising their operations. The goal is to give Pakistan’s unbanked rural population access to financial services and to digitise payments across the supply chain. Consumers and businesses will benefit from this not only in terms of value and efficiency, but also in terms of convenience.
Rapid is a member of the Lakson Group and a division of Cybernet. It has pioneered cloud computing, networking services, and management solutions for digitising all aspects of business and industry in Pakistan. It remains one of the leading cloud service providers to the government, financial industry, and large businesses.By being the only local CSP to be PCIDSS3.2 and ISO 27001:2013 certified, as well as GDPR compliant, the company also provides organisations with data and network security that meets global requirements.
“As a pioneer in providing technology infrastructure and digital framework to leading names in the industry, Rapid has positioned itself as a technology provider that gives its partners the strategic push required to establish their footprint in the digital landscape,” said Qasim Akhtar Khan, Chief Strategy Officer of Akhtar Fuiou Technologies.
“AFT is committed to forming strategic collaborations that lead to long-term connections. Rapid and AFT’s collaboration will allow the rural market to enjoy frictionless digital payments like never before. We’re excited to embark on this adventure with Rapid as our technology partner, and we’re convinced that this will pave the way for us.”
Source: Press Release
