Digitt+ by AFT has been approved for a pilot program by the State Bank of Pakistan. This new EMI (Electronic Money Institution) will be using Covalent’s Taabiir platform to power its digital wallet, called Digitt+.
This will allow customers to digitally onboard, perform eKYC and Nadra verification, open digital wallets, generate virtual cards, carry out instant inward and outward funds transfers, bill payments, top-ups, and more.
Imran Qureshi, CEO of Covalent, is optimistic about the company’s future and its ability to provide superior service to its clients. He said that Covalent’s experience in digitization and quick time to market make it an ideal partner for any entity.
Covalent has a pay-as-you-grow model coupled with a retainer model that makes it easy for any entity to scale and improve unit economics. The company’s platform is PA DSS certified and developed by TPS, with delivery and operations supported by the network and infrastructure team of Access Group.
Together, Covalent has access to over 600 domain experts from both principal companies. “We value the trust that has been placed on us by AFT and we hope to give them the same superior service that is a hallmark of Covalent, Access Group & TPS,” he added.
“We are thrilled to be embarking on this journey to revolutionize the Agriculture FinTech sector in Pakistan together with Covalent. The approval from the State Bank of Pakistan is a crucial step in that direction.”
“Covalent is one of our key partners in this Endeavor, and we’re confident that their agility combined with our eccentric business model will redefine the financial industry of Pakistan,” expressed Ahmed Saleemi, CEO of AFT.
“This sentiment was echoed by Shahzad Shahid, who commented: “We’re proud to have been selected by AFT to help them provide a digital payments service that goes above and beyond in terms of features and customer service.”
“With our experienced and agile team, I’m confident we’ll make a positive impact on the digital payments landscape in the country and the region. Covalent has always been up for the challenge of enabling its customers quickly and efficiently, and we’re looking forward to continuing that tradition,” he added.
