Jiye Technologies announces first-of-its-kind ‘Agri-Tech’ BNPL feature in Pakistan

BusinessJiye Technologies announces first-of-its-kind ‘Agri-Tech’ BNPL feature in Pakistan

LAHORE, Pakistan: Jiye Technologies, the fastest growing Agri-Tech platform in Pakistan, has announced a first of its kind business-to-business (B2B) buy-now-pay-later (BNPL) feature through a digital financing product for farmers and businesses across Pakistan under its program called ‘Jiye Khushhaal Karobar’.

The digital financing service will empower farmers, retailers, and businesses with quick, easy, and convenient access to credit to sustainably grow their revenue.

The initiative has become possible through the close integration of Jiye Technologies with licensed financing entities to help uplift the Pakistani agricultural sector with added liquidity.

Small farmers, retailers along with the other stakeholders would be able to get access to up to Rs 50,000 worth of micro-loans that have the ability to be increased over time.

The BNPL program has been started with aggressive expansion plans with input integrations to the farmers and agricultural sector to be introduced in the near future.

Speaking at the occasion, Ali Amin Co-Founder, Jiye Technologies, said, “Hailing from an agriculture background, I have always felt that enabling businesses and farmers with access to smart credit would really help uplift their income and help them grow; our BNPL solution is one of the many initiatives under ‘Jiye Khushal Karobar Program’ that is designed with their needs in mind.  We want to extend a helping hand to empower our partner SMEs and marginalized farmers so that they have the ability to sustainably grow their business and livelihoods”.

A large majority of farmers and retailers are underserved in Pakistan by the financial sector, often forcing them to turn to predatory loan sharks for their business needs.

To help bring unbanked businesses into the financial net and improve financial inclusion, this will be the first time that the Agri-Tech sector has created a digital financing solution that caters to their working capital needs.

The Jiye Technologies BNPL solution offers them fair and transparent credit terms with flexible payback schedules ranging from 4-15 days and multiple payment methods including through digital wallet deposits.

The Jiye Khushaal Karobaar Program’s BNPL solution offers multiple SKUs of fruits and vegetables in advance for the value amount of the loan, so that retailers are able to generate increased sales and escape debt traps.

The move is strategic as it helps fresh-produce business owners to move one step closer to independent sustainable business operations.

The platform is working to revolutionize the agricultural sector in Pakistan by providing farmers easy access to inputs, democratizing access to major markets and convenient sourcing to retailers through lean supply chain ecosystems.

Jiye Technologies also intends to expand into further verticals to enhance their business support initiatives and also to build a highly efficient agricultural value supply chain across the Country.

Must read

Recent News

“Ustad Bashiruddin- A Restrained Grace” and “Bleeding Borders”

“Ustad Bashiruddin- A Restrained Grace” and “Bleeding Borders”

0
Lahore, Pakistan: In connection with the celebrations marking 150 years of Mayo School of Arts and National College of Arts, Lahore, Pakistan, the opening...

Indus Shield-Chinese concluded

0
Monitoring Desk: Indus Shield-Chinese, a bilateral module of Exercise Indus Shield 2024, being conducted separately between Chinese and Pakistan forces has concluded at an...

Mushaal writes to Rahul Gandhi to save Yasin’s life

0
Islamabad, Pakistan: Mushaal Hussein Mullick, wife of jailed Kashmiri leader Mohammad Yasin Malik, has made a heartfelt plea to Rahul Gandhi, India's opposition leader,...
Iranian Foreign Minister Seyed Abbas Araghchi has arrived in Pakistan today on a two-day official visit and he will hold meetings with civil and military leadership of Pakistan. This is his first visit to Pakistan after Israel attacked Iran in response to Iranian attack on certain Israeli cities. His meetings with Prime Minister Muhammad Shehbaz Sharif and Deputy Prime Minister / Foreign Minister Senator Mohammad Ishaq Dar are confirmed. Foreign Minister Araghchi will hold consultations on the situation in the Middle East and Pakistan-Iran bilateral relations. This visit provides an important opportunity to advance cooperation and dialogue between Pakistan and Iran on a wide range of areas including trade, economic, energy and security.

Iranian FM Araghchi and Foreign Minister Ishaq Dar showed commitment to work jointly in...

0
Islamabad, Pakistan: Iranian Foreign Minister Seyed Abbas Araghchi and Foreign Minister Senator Mohammad Ishaq Dar while addressing a joint presser showed their commitment to...

Active community engagement is central for stronger ties between Pakistan and the UAE, believes...

0
Islamabad, Pakistan: "One of the challenges we face is that a segment of people misuse tourist visas to seek jobs illegally, or, in some...
Advertisement