Digital Bulk Payment Pilot Project
The project will facilitate the transition from cash payments to digital payments in the form of mobile money in the cotton outgrowing industry, by providing technical and financial support to ginning companies and digital financial service providers to test, implement and scale up different digital payment modalities.
Critically, the project aims to ensure that the transition process is based on the principle of ‘shared value’ in which both agribusiness and farmers benefit from the process as well as ensuring efficiency and transaction cost reduction for the cotton companies.
It is intended that the process of bringing smallholders into the digital financial market will ultimately make it easier for farmers not only to be paid and transact, but also to save, borrow and insure against loss.