JULO and eFishery drive financial inclusion and financial literacy among fish farmers
UnionPay International signs MOU with Vietnam ’ s NAPAS
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JULO and eFishery drive financial inclusion and financial literacy among fish farmers
Support Now , Pay Later ) program to over 6,000 fish farmers across Indonesia – with total funding exceeding US $ 11m
Nimish Dwivedi , Chief Business Officer , JULO , said : “ As a financial inclusion provider we remain deeply committed to strengthening our partnership with eFishery on an ongoing basis given its impact on fish farmers across the nation .”
PT JULO Teknologi Finansial ( JULO ), an Indonesian fintech , has built a successful partnership with the aquaculture tech company PT Teknologi Untuk Pembudidaya ( eFishery ) aligning Indonesian government efforts to improve financial literacy and promote financial inclusion .
The focus of the collaboration on Indonesia ’ s fish farmers – one of the segments that stats show as having the lowest financial literacy .
As of July 2024 , the two homegrown technology companies have provided financing through the Kabayan ( Kasih , Bayar Nanti or
Gibran Huzaifah , CEO and Co-Founder , eFishery , recognised the ‘ vast potential ’ of Indonesia ’ s aquaculture sector , noting that the collaboration goes beyond a business partnership , and represents a shared commitment to improving the welfare of fish farmers .
“ The aquaculture technology we develop and JULO ’ s financial solutions have joined forces to create a strong synergy . This allows us to offer more comprehensive services to our partners and establish an ecosystem that positively impacts all its components , while also contributing to national food security ,” said Gibran .
Ir . Hermansyah , Head of the Marine Affairs and Fisheries Agency for West Java Province , said : “ We hope this program will continue to support fish farmers in expanding their businesses .”
UnionPay International signs MOU with Vietnam ’ s NAPAS
UnionPay International ( UPI ) and the National Payment Corporation of Vietnam ( NAPAS ) have signed an MOU to deepen the collaboration on cross-border QR code interoperability and enable QR payments by UnionPay and Vietnamese local bank applications / e-wallets on each other ’ s networks .
UnionPay has been actively driving interoperability with payment networks in international markets to build an open and inclusive ecosystem .
In August 2024 , the central banks of China and Vietnam signed an MOU to further promote collaborative efforts in areas including crossborder payment interoperability .
In line with this framework , UPI has been deepening collaboration with NAPAS and will open up the UnionPay network to Vietnamese wallets on a large scale . In the future , Vietnam ’ s local banking app and e-wallet users will be able to scan UnionPay QR for payment in China ’ s mainland .
The collaboration in Vietnam is pitched as providing payment services for the Chinese and Vietnamese as they travel across borders .
Network interoperability is UnionPay ’ s innovative collaboration model for QR networks , which allows UnionPay and its international partners to quickly enable mutual acceptance on a large scale through simple integration .
The model has been widely recognized by international industry stakeholders since its launch .
Up to now , UnionPay ’ s partnerships with QR code networks in South Korea , Sri Lanka , Cambodia , Malaysia and Laos have increased the number of UnionPay QR merchants to 8 million outside China ’ s mainland – proving to be increasingly effective as it scales up .
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