While the world is going digital, the use of paper checks is still the standard for farmers. Fargo-based Bushel has released a special report on payments in agriculture. The report said over 70 percent of grain payments to farmers are still processed by paper checks. “It is one of the most paper check-based industries out there today, no question,” declared Jake Joraanstad, CEO, Bushel. Joraanstad is seeing a significant shift from paper checks to digital methods, such as ACH and digital wallets. Young farmers and those with aggressive plans for growth are driving the transition to digital payments. “It’s almost entirely the agribusiness that is the lack of adopter.” Bushel is a software company focused on developing digital tools for the agricultural supply chain. In 2025, the company will offer a banking option to farmers. The State of Agriculture Payments Report can be found online. Click here to listen to the interview with Joraanstad.
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