In an effort to promote a cashless economy in Bangladesh, iFarmer, in collaboration with Visa and United Commercial Bank (UCB) PLC, has launched the ‘Farmer Card’ initiative. This program aims to provide rural farmers with digital payment options, thereby enhancing financial security and reducing the need for cash transactions.
The launch event, held on October 31 in Chutipur, Damurhuda Upazila, Chuadanga, saw the distribution of Farmer Cards to 17 registered farmers. In the initial phase, 150 farmers from various areas will receive the card, with plans to expand the initiative to reach more farmers across the country, strengthening digital payment practices.
The primary goal of the initiative is to encourage cashless transactions among farmers while supporting the growth of the digital payment system in Bangladesh. With the Farmer Card, farmers can manage their finances more easily and access post-credit services, including the purchase of agricultural inputs such as seeds, fertilizer, and pesticides from iFarmer, thereby minimizing security risks associated with carrying cash.
Head of Product Management at iFarmer, Muhaiminul Hossain, expressed, “We believe in empowering farmers with modern technology for a sustainable future. The Farmer Card will connect marginalized farmers to a cashless economy, preparing them for the digital age. Additionally, this initiative will enhance their financial security and foster economic resilience within farming communities.”
Present at the event to discuss the initiative’s impact and to distribute the cards were iFarmer’s Head of Product Management Md. Muhaiminul Hossain, UCB’s Assistant Vice President and Head of the Chuadanga Branch Md. Touhiduzzaman, Senior Executive Officer and Credit-in-Charge Akbar Hossain, and National Sales Relationship Officer for the Rajshahi Branch Md. Mahmudul Haque.
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