Mastercard FarmPass is an online marketplace which presents farmer / FPO info to buyers and handles the transactions / payments
Til date, MC has been working with Program Managers / Owners who license MC FP, on-board farmers (they fill a bunch of info via FarmPass, pretty similar to the stuff we capture in KDE) and provide transaction support (logistics coordination, ensure property quantity and quality, etc.)
An example is LEAF and the economic model is that program managers get a cut of sales (0.25 to 0.5%)
MC is now partnering w a supply chain finance platform (name not disclosed); the idea is that the invoices generated through FarmPass will be sent to this platform for factoring; basically, financiers pay the supplier / farmers right away at a slight discount and then get repaid by the buyer in 2 weeks or 30 days or whatever the terms are
Archana K (Unlicensed) and Ashu Sikri (Unlicensed) connected with Santanu Mukherjee and Shweta Pereira from Accion (who is advising MC on the rollout of this program) on Apr 14. They were asking if we are interested in being a Program Owner
We described our DFN vision incl KDE and FS P2P connectors + consent manager.
Our basic message was that if farmers can discover new buyers through Farmpass and get invoice discounting via the Supply chain platform, thats fine but we don’t want farmer data to be siloed in FarmPass
Also suggested Farmpass may want to use FS P2P connector to share data w the supply chain finance platform and integrate some consent workflows to give farmers more transparency/agency about data sharing; lukewarm initial response but we can revisit as we followup
Accion is going to share some talking points / stats on Farmpass today (buyers, commodities of interest, benefit to farmers, etc). Apparently chili is a commodity of interest and we can see if it makes FPOs want to share the data captured via KDE with FarmPass (similar to how they are doing w Kalgudi and GS1)
Target Geographies: AP / Telangana, MH, Bihar
