A tech leader and software company director has said that the setup of a national FinTech organization will push New Zealand’s economic growth.

Mitchell Pham, tech leader and director of NZTech, said that New Zealanders should care about FinTech as electronic interactions will play an important role across the country’s economy, according to Scoop News, a New Zealand news website.

After gathering support from NZTech and the New Zealand government, FinTechNZ was launched last week.

Pham is reported as saying that e-commerce as a subset of FinTech is important for the future of small to medium businesses, enabling them to export globally. He added that on March 24, FinTech experts from the U.K. and Australia, two of the biggest FinTech communities, will be connecting with FinTechNZ members when they visit New Zealand.