29 Oct MasterCard Unites Hands with LEAF to Expand Financial Inclusion, Double Farmers’ Income
Lawrencedale Agro Processing India (LEAF), India’s foremost agricultural value chain facilitator, announced a partnership with MasterCard to establish LEAF Farmer Network, which will increase financial access and inclusion for over one million farmers in India.
Indian farmers will benefit from this platform as it combines technology and human interaction to address the various transparency concerns facing the country’s rural ecosystem.
Farmers from Andhra Pradesh, Karnataka, and Tamil Nadu will be given access to digital harvest data, better market access, crop knowledge, and, most significantly, a high level of transparency by connecting directly with purchasers. The initiative will help farmers build resilience and support the government’s goal of making India an “Atmanirbhar Bharat.”
Small-scale farmers, who comprise more than 80% of India’s agricultural industry, are sometimes subject to extreme opacity and are dependent on intermediaries. At every step, farmers face hurdles, whether it is procuring excellent farmed goods, maximising the value of their output, or using formal payment channels.
“The participants in the agricultural ecosystem are impeded by a lack of clear access to actionable data. This problem is solved by adding a virtuous loop between farmers and markets, allowing for greater information access. We are happy to join with MasterCard to carry on our years of effort in bringing about a positive shift in the life of disadvantaged farmers,” Palat Vijayaraghavan, Founder & CEO of LEAF, stated.
The LFN platform will enable seamless access to high-quality food at scale, enable transparent price negotiation, and manage end-to-end logistics with quality control. LFN representatives assist farmers throughout the process.
LFN offers a high touch, digitally-based product purchasing process through a specialised on-the-ground farmer advisory and change management staff. It is supported by MasterCard’s secure, phone-driven, and internet-independent technology,” added Vijayaraghavan.