Paytm & Unnati Together Launch New Card to Give Digital Financial Services to Farmers

Digital payment platform Paytm and Agri-tech startup Unnati have launched a digitally integrated card linked to the payments platform. This card is launched to aid the farmer to get their farm requirements digitally. The Noida-based agri-tech startup claims that the newly launched card would also aid the farmers to boost their net income by reductions of seed fertiliser cost as well as 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 could obtain the digital card developed by Unnati and Paytm at Rs.250 (one-time charge) which is said to provide other services free of cost.

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."

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

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