Wirecard has inked a deal with BASF to provide digital payment services for the company’s farming solution xarvio.
xarvio is a digital solution aimed to help in crop production. To receive field-specific timing and dosing of agricultural inputs, farmers will use Wirecard’s payment ecosystem to process Visa and Mastercard payments worldwide.
The payments company will provide an end-to-end solution created for xarvio digital products, which will facilitate subscription payments for users worldwide.
According to a 2017 study by MarketsandMarkets cited in the press release, the digital-based farming services market is projected to reach USD 9.53 billion by 2023. Driving factors for the growth include population growth and the associated increase in demand for food, cost savings offered by digital farming, and government initiatives to modernise the agriculture industry.
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