KUALA LUMPUR, April 13 – In a groundbreaking partnership, local Malaysian startup Fefifo has joined forces with Payments Network Malaysia Sdn Bhd (PayNet) to introduce digital financial solutions for B40 farmers in Malaysia. As the first AgriTech company to collaborate with PayNet, Fefifo aims to advance digital payments and financial inclusion among B40 communities through its Farmer Digitalisation Programme.
The initiative, powered by PayNet’s digital payments infrastructure, offers incentives and training for B40 farmers to adopt cashless payments. Additionally, PayNet is supporting Fefifo in lowering operational costs for cashless distribution centers and facilitating the selection of suitable cohorts. The programme equips B40 farmers with state-of-the-art farming techniques, access to affordable farming supplies, and guaranteed offtake through Fefifo’s Magic Bean mobile app, fostering sustainable livelihoods and local food production.
The collaboration underscores a shared commitment to enhancing national food security and empowering rural communities, aligning with the National Agrofood Policy 2021-2030. With online applications now open, up to 100 B40 farmers will have the opportunity to join the programme, marking a significant step towards transforming the agriculture sector and accelerating digital inclusion in Malaysia.
