AgriBazaar revamps virtual payment solution platform agriPay

Agri-tech firm AgriBazaar on Tuesday said it has revamped its virtual payment solution agriPay to provide additional security and enhanced convenience to users while transacting on its platform.The company, in a statement, said trading on AgriBazaar involves an earnest money deposit EMDsecurity deposit SD by both parties - buyers and sellers to ensure nobody backs out amidst the trading process, thus making the user experience more seamless.

Agri-tech firm AgriBazaar on Tuesday said it has revamped its virtual payment solution agriPay to provide additional security and enhanced convenience to users while transacting on its platform.

The company, in a statement, said trading on AgriBazaar involves an earnest money deposit (EMD)/security deposit (SD) by both parties - buyers and sellers – to ensure nobody backs out amidst the trading process, thus making the user experience more seamless. Users can simply park their money in the agriPay account and utilise it for making multiple trade transactions. Users will get immediate refunds if the trade fails due to any glitch or other reasons, it said.

Using the AgriBazaar mobile app, users can seamlessly add money to their agriPay account instead of sharing bank or card details, AgriBazaar Co-founder and CEO Amith Agarwal said. ''We hope this solution transforms the traditional payments mechanism into a one-stop payment avenue that enables both buyers and sellers to carry out transactions more seamlessly with the highest safety and security,'' he added. India has seen a rapid uptick in the digital payments vertical, even in the agriculture sector. It is fast, secure and most importantly prevents users from visiting banks physically, he noted.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)