B2B Payments

India Hands Rural Farmers eProcurement Power

Shutterstock

The North Indian state of Haryana wants to help its rural farmers go digital when selling to businesses. Reports by Business Standard on Thursday (Aug. 11) said Haryana Food and Supplies Minister Karan Dev Kamboj will empower farmers to sell their crops online.

The announcement will position these farmers with an eProcurement facility ahead of the paddy procurement season. In a statement, Kamboj said commission agents may also be part of the process. A meeting is slated for later this month to discuss aspects and implementation of the eProcurement project, reports noted.

India has recently looked to strengthen its eProcurement capabilities in both the private and public sectors.

Last year, eProcurement platform cloudBuy said it expects India to push its portal volume to between $3 billion and $5 billion as companies in the country flock to digital platforms for procurement needs.

But across the globe, farming has also become the center of procurement and payments automation.

Earlier this month, Farmer’s Business Network announced a $20 million funding round as it looks to expand its farmer network in the U.S. and to help its members use data analytics technology to become more efficient. Another company, Conservis, rolled out its own financial accounting and automation services targeting the farming and agriculture industry.

Analysts have also pointed to mobile payments technology as a game-changer in agriculture, especially in rural and developing areas. Corporate commodity buyers can use mobile and digital payments solutions that help farmers reduce the risks associated with physical cash, which also aid with record-keeping and reduced transaction costs, industry experts say.

——————————–

Latest Insights: 

Facebook is a giant in the ad game, with 2.3 billion active monthly users and $16.6 billion in quarterly advertising revenue. However, its omnipresence makes it a honeypot for fraudsters. In this month’s Digital Fraud Report, PYMNTS talks with Rob Leathern, Facebook’s director of product management, on how the site deploys automated systems and thorough advertiser vetting to close the lid on fraudster attempts.

Click to comment

TRENDING RIGHT NOW

To Top