Digital Payments in Agriculture: A Shift Towards Technology

Bushel, a software company that creates tools for the agricultural supply chain, has some interesting findings. Their recent report shows that farmers are moving away from paper checks. Over the last year, there's been a 12% drop in payments made by check. But it's not just about what's decreasing; digital payments are on the rise. More and more farmers are using these platforms, jumping from 39% to 76% in just one year! This change is led by younger farmers and those looking to grow their businesses quickly. However, there's still a long way to go. About 70% of grain payments are still made by paper check. The USPS has even warned about increasing fraud risks with this method. So, what can be done? Bushel suggests that agribusinesses should adopt digital payment platforms and offer flexible options for farmers. They also recommend using tools that automate the payment process. It's clear that technology is helping to simplify things for farmers. But how does this shift benefit others in the industry, like lenders and agribusinesses? Bushel aims to make these transitions smooth and beneficial for everyone involved. About Bushel: This independent software company is based in Fargo, North Dakota. They offer a platform that helps improve operational efficiency and gives crucial insights. Their solutions are used by over 100,000 farmers and power more than 3,500 grain facilities across the U. S. and Canada.