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Paytm and Agri-Tech Startup Unnati Launch New Card to Provide Digital Financial Services to Farmers

Paytm and Agri-Tech Startup Unnati Launch New Card to Provide Digital Financial Services to Farmers

Unnati says the new digital card co-developed by Paytm would prevent farmers from falling into debt traps and facilitate better agriculture in the country. Farmers with the digital card purchase inputs such as seeds, fertilisers, and pesticides without any collateral.

Paytm and Agri-tech startup Unnati have launched a digitally integrated card linked to the payments platform to help farmer obtain their farm inputs digitally. The Noida-based agri-tech startup claims that the newly launched card would also help farmers boost their net income through both reductions of seed fertiliser cost and enabling them to get better rates for the sale of farm output produced. Apart from this, the card aims to deliver real-time updates to farmers in every aspect that includes payouts to avail better credit rates "flexibly and seamlessly." Farmers can procure the digital card developed by Unnati and Paytm at Rs 250 (one-time charge) which is said provide other services free of cost.

Unnati, in a statement, said that the new digital card co-developed by Paytm would prevent farmers from falling into debt traps and facilitate better agriculture in the country. Farmers can not only purchase inputs such as seeds, fertilisers, and pesticides without any collateral but can also enjoy other purchase-related benefits, the company notes.

Speaking more about the digital card at the launch event, co-founder Ashok Prasad said, "Unnati is the first agri-tech startup to launch this kind of product as no other brand has launched anything that is so tightly integrated into a digital platform that also enables transactions yet. Our newly launched cards are aimed at enabling farmers to avail top-quality products, improve their marketplace access, and boost their overall income. We will be introducing more such products soon."

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The digital card from Unnati and Paytm is currently available in four states, and the company plans to scale up its operations to all states across India. Unnati says it hopes to reach 1 million farmers through its services by the end of this year.

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