VRS Foods, one of the leading dairies in India with a dairy brand “Paras”, has collaborated with a tech start-up ‘Stellapps’ for fully automated user friendly digital direct farmers payment application “mooPay” in its two different milk shed zones, Kanpur Dehat district in Uttar Pradesh, and Malanpur district in Madhya Pradesh.
Speaking on the occasion, Narendra Nagar, CMD, VRS Foods said, “Paras for years has been trying to achieve a direct relationship with farmers. We have invested a lot of capital in making the procurement process transparent and help dairy farmers to increase their income. This new effort will give us new energy to give farmers and our customers, a better service. I hope we can make full use of the Internet of Things technology from Stellapps and work in co-operation.”
Stellapps’ direct farmer payment fintech solution mooPay, acts as a payment gateway for dairies to make payments on the click of a single button to every registered farmer in a matter of seconds, completely removing the risks and costs of transferring money to thousands of farmers in hundreds of villages. The mooPay fintech solution will bring transparency and cost savings due to digitisation of the milk value chain. The initiative will initially cover around 900 villages in three states — Uttar Pradesh, Madhya Pradesh and Maharashtra — and will directly benefit 20,000 farmers and later initiative will cover 5,000 villages benefiting 100,000 farmers.
Rahul Mallick, CEO-FinTech & Value Added Services, Stellapps said, “Financial inclusion of farmers will be crucial to boosting farmers’ income. Enabling direct digital payments to farmers’ bank accounts not only helps improve financial inclusion and economic empowerment of farmers but also facilitates the design and delivery of innovative data-based farmer beneficiary programmes.”
Stellapps’ mooPay system enables an automated digital payment solution which helps the dairy officials to transfer the milk payments digitally to the farmers’ saving bank accounts. mooPay system will automatically fetch milk payment data from the IoT devices deployed at every village level milk collection units and centres which capture the real time milk pouring of every farmer in both shifts during milking operations in villages.