Furthering the Future of Fintech through the HQA® Program 

An innovative Fintech project with the potential to impact everyday shopping experiences and digital payment systems has been launched at the University of Algarve through the HQA® Program. Entrepreneur Prashant Pawar was present in Faro to sign a research and development agreement with UAlg, which aims to improve the process for consumers and retailers as shopping continues to evolve in the digital age through this collaborative endeavour.  

Modernizing the Entire Shopping Experience 

Despite widespread digitization of payment methods in recent years, many aspects of retail transactions are still lagging behind in terms of technology. Coupons, loyalty points, and receipts are all either still on paper or rooted in outdated systems.  

Pawar’s project will focus on whether modernizing many of the processes surrounding retail shopping would enhance the customer experience and increase customer retention. By linking receipts to Non-Fungible Tokens (NFTs), he intends to determine whether customers will become more engaged with retailers and adopt further cryptocurrency practices. NFTs are unique digital assets that use blockchain technology to represent ownership of specific items, which would include coupons, loyalty points, and receipts for Pawar’s project.    

Founder Brings FinTech Leadership to Portugal 

Pawar comes to UAlg with a lengthy history in technology and innovation. Following the completion of his master’s in computer science, Pawar spent more than fifteen years as a full stack software architect specializing in user experience and user interface development. His work in Fintech leadership comprises more than a decade at companies like the Bank of New York Mellon where his activities included designing and developing cryptocurrency products.  

Having founded and invested in multiple startups prior to this R&D project in Portugal, Pawar has experience in launching and leading early-stage ventures. His proficiency with cutting-edge blockchain technologies will provide the researchers and students he collaborates with at UAlg with an exceptional opportunity for both knowledge exchange and technology transfer.     

Strengthening Portugal through the HQA® Program 

UAlg is one of 15 Portuguese universities and polytechnics that participate in the HQA® Program as part of Empowered Startups’ network. By partnering with institutions distributed throughout the country’s interior, Empowered Startups is fostering territorial cohesion in Portugal while creating innovative opportunities for Portuguese students through the HQA® Program.  

To date, the Canadian multinational has delivered nearly 8 million euros of foreign direct investment to Portugal through its globally recognized program. After establishing new benchmarks for incoming entrepreneurs and foreign direct investment in 2024, the HQA® Program is on pace to set records in both categories by the end of this year.  

Learn more about the HQA® Program