back Back

Mastercard and LEAF drive digitisation in the farmer community

By Leandra Monteiro

February 17, 2022

  • Credit
  • Digital Lending
  • Digital Payments
Share

Mastercard, LEAFTo improve financial access and inclusion for farmers in India, Mastercard partnered with Lawrencedale Agro Processing India (LEAF), Indian agriculture value chain enabler, to soft launch LEAF Farmer Network (LFN) in early 2021. The objective behind launching LFN was to enable farmers to become a part of the digital ecosystem by empowering them through enhanced access to markets, knowledge, digitization of income and access to credit with high levels of transparency, data privacy and consent.

To generate awareness and drive adoption of the platform amongst farmers, Mastercard and LFN launched an outreach campaign covering more than 100 villages in Karnataka and Tamil Nadu. Over a period of one month, Kisan Sabhas were conducted to explain the benefits of digitisation to farmers and to allow them to have their questions answered by agriculture experts, representatives from LEAF and Mastercard. The response was extremely positive with thousands of farmers attending the Kisan Sabhas and expressing interest in participating in digitization initiatives.

Talking about the initiative, Palat Vijayaraghavan, Founder & CEO, Lawrencedale Agro Processing India (LEAF) said, “With LEAF Farmer Network (LFN), we are solving problems for millions of marginalized farmers across multiple touch points of their lifecycle. Be it in agronomy or market realization, accessing effective financing or getting value for their work, the marginalized farmers are constantly running from pillar to post to get stability into their livelihoods. LFN solves all these problems at scale. Customized solutions are accessible at farmers doorstep, enabling them to focus on their core agriculture work, ensuring the marginalized farmers livelihoods are sustained and improved.”

Nikhil Sahni, Division President, South Asia, Mastercard said, “The launch of LEAF Farmer Network powered by Mastercard supports the Government of India’s goal of doubling farmers’ income in the coming two years. One of the critical aspects for success is farmer adoption and trust. All of the program’s solutions are geared in this direction. Mastercard’s objective is to create a commercially sustainable digital ecosystem as we enable our bank and financial institution partners to drive rural banking, data-based agriculture credit for new segments, and exceed Priority Sector Lending (PSL) goals.”

Previous Article

February 17, 2022

Cynergy Bank announced reaching the £3b lending milestone

Read More
Next Article

February 17, 2022

TransferGo announced the sale of secondary shares, valued at €6m

Read More






IBSi Daily News Analysis

Complaints Fraud

May 22, 2024

Credit

UK SMEs lack fraud protection, facing significant financial risks, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 22, 2024

4 Lending platforms facilitating easy access to funds in India

Read More

May 22, 2024

Sabre Hospitality and Uplift partner to offer flexible hotel payments

Read More

May 22, 2024

American Express & Emburse bring integrated expense management solutions to SMEs

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023