What is Bushel Payments?
Bushel Payments is a digital payment tool that enables the option to electronically process payments to and from your farmers beyond the known traditional forms such as paper check and ACH (also known as direct deposit).
How Bushel Payments Works
Bushel Payments is a part of a money movement network within Bushel’s digital ecosystem.
- Farmers will leverage their grain facilities app to send and receive money for grain settlements as well as one-time payments.
- Grain facilities use Bushel Payments to transact with their farmers on grain settlements and payments within their existing admin tool.
Farmers can send and receive money within the grain facility app that they are familiar with and interact with on a consistent basis.
- Signing up is easy; onboarding can take less than 3 minutes
- There are no fees to sign up or transact with grain facilities
- When a farmer enrolls in Payments, they are sent a Bushel Debit Card so they can immediately access the funds they receive
- Privacy and security is our top priority; data is encrypted and transactions secured
- Farmers no longer have to wait for payment via paper check
With Payments, Grain facilities can invite their farmers to enroll and begin moving money immediately.
- Account maintenance controls transfer from the facility to growers reducing operating costs
- Payments ties grain management and payments into a one-stop shop
- Issue real-time payments with instant notifications
- Add personalization with custom memos and keep track of all transactions in Payment History
- Mitigate evolving fraud trends with the latest encryption technology
Benefits of Bushel Payments
- Provides immediate access to funds and realizes working capital faster: move money within the digital ecosystem, transferring fund ownership in real-time
- Fast and simple process: eliminates lengthy and manual steps to serve customers quickly and with ease
- Secure alternative to paper checks and ACH: leverages latest tokenization technology to protect sensitive account information, mitigating risk for both you and your customers
- Affordable solution for the grain industry: because the average grain settlement (on the Bushel platform) is $50,000, other digital payments solutions pricing models don’t fit the bill
- Enhancement to existing technology: creates a more robust offering and service to customers with technology that they already have in their pocket