GROWERS Platform to Integrate Bushel Wallet for Enhanced Online Ag Retail Purchasing Experience
GROWERS, a platform connecting farmers and ag retailers for digital input procurement, and Bushel, an independently-owned software technology company focused on developing digital tools for the agricultural supply chain, announce a partnership to integrate digital payments into the ag retail purchasing process.
GROWERS is a digital platform connecting farmers to their ag retailers to simplify input buying without disrupting the farmer-retailer relationship that is so valuable to the agriculture industry. The integration will use a Bushel API that allows agribusinesses to embed payment functions in their applications or websites, connecting them to the Bushel Wallet network for secure money and convenient transfers.
Scheduled to be available in March 2024, this integration will transform the crop input purchasing experience, offering enhanced security and convenience. The U.S. Postal Service has repeatedly advised against mailing checks due to security concerns, advocating for secure digital methods instead. According to the 2023 Bushel State of the Farm Report, more than 1,300 farmers reported 80% of ag input purchases and grain check settlements were paid through paper check. Digital wallets are a more secure payment system than paper checks.
Bushel Wallet simplifies financial transactions for farmers by offering a convenient and straightforward platform to handle their grain sale payments and ag input expenses. The Bushel Network, covering over 45% of U.S. grain origination, allows farmers to streamline their agricultural finances. Bushel Wallet can enable farmers to pay invoices and receive grain settlement checks at more than 2,600 grain buying and ag retail locations in the United States.
Within the GROWERS platform, once farmers and retailers have agreed to the terms of purchase on crop inputs or energy and feed products, Bushel Wallet users will be able to select their Bushel Wallet as a payment option to digitally pay and send money to their trusted partners. Farmers who have not yet signed up for Bushel Wallet will have the opportunity to create a free account and connect to their funding source within the GROWERS application.
“We are thrilled to partner with Bushel in creating a seamless, integrated experience for farmers,” said Steven Valencsin, CEO of GROWERS. “This collaboration exemplifies our commitment to empowering farmers with innovative solutions that simplify and enhance their daily operations, and ultimately help them run better farm businesses.”
“Our latest payment innovations aim to simplify transactions for both farmers and agribusinesses. This step enhances agriculture’s digital infrastructure, making business interactions smoother and more efficient. It’s a significant move to continue to grow the Bushel Network, which unlocks value to the agribusinesses and their farmers,” said Jake Joraanstad, CEO of Bushel.
Bushel adheres to SOC 2 standards, and its debit card transactions are processed over PCI-certified networks. Currently, Bushel’s digital payment products are available only in the United States.
Bushel Wallet supports financial security with a fully routable account and FDIC insurance, through Evolve Bank & Trust, Member FDIC. Funds deposited into Bushel Wallet accounts provided by Evolve Bank & Trust are covered by the FDIC standard deposit insurance amount. The standard deposit insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.
Learn More
For ag retailers looking to streamline the input purchasing experience for their growers, visit growers.ag. For agribusinesses interested in streamlining payments processes, click here.
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