Simon advises payments that show up(!), show up quickly, with reduced failures and less admin for users hit a sweet spot. These sound very straightforward and yet ..
He also refers to ‘payment orchestration’ which I think is directly relevant to Bushel as their payment network is part of their wider ecosystem and not an isolated product. Inventory, invoicing, valuation, hedging, marketing tools for growers and storage operators now complemented with payment functionality. 🎯
Simon also alludes to the opportunity for data enabled financing with this approach. In Bushel’s case, I just think this is a matter of when not if.
For any participants who are happy for their data to be shared with financial providers, this will unlock better risk management and hence better pricing and I can easily see this growing over time.
One key ecosystem component that does need to be resolved is the participation of other banks to provide clear and easy communication around existing lien and loan obligations.
I am told “Bushel are working on it ”.
Bushel has integration in its DNA so I expect multiple opportunities for companies to provide payments and finance around the adjacent retail and transport ecosystems but also up and down the already huge grain value chain for input finance, inventory finance or trade finance products.
There is also the prospect for increased carbon and sustainability financing, with Nori
, for example, also currently exploring opportunities with Bushel.
But success rests on payments which Simon sums up nicely!
Get the payment, and you get the data.
Get the data, and you get to add value.
Add the most value and capture the most value.
Capture the most value, and you win.