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Farmer Card Management System
Long-term credit and harvest season repayment: Industry leading solutions that make a difference
The farmer (agricultural) card is an instrument to access many banking products nowadays, which is a convenience for the customer, and provides an easy-to-manage, effective infrastructure to the bank. Agricultural cards are agricultural credit-based cards that are designed to suit the needs and repayment alternatives of farmers and landowners. Payment in installments or deferred payment are of convenience to the target customers. The special limit allocated to the customer enables the farmer to use the loan intended for agricultural purchases and production through special transactions possible on various terminals, and with special pricing schemes for those transactions.
Farmer Card limits may be allocated in addition to the regular limit of the card, and can be used only in special transactions intended for the purpose. This enables the management of two discrete limits on the same card, maintaining the regular credit card application as before, while providing an additional function with different interest rates and repayment options of agricultural cards.
Uses of agricultural loan are presented to the client with a discrete statement. The dates on which such statements will be issued can be defined with a parametric calendar that is different from the regular credit card statement calendars.
Mode of Operation:
- Closed-Circuit Farmer Card
- A Hybrid Solution with Regular Credit Cards
Repayment Options:
- Flexible installments (a customized payment plan with varying repayment amounts and dates)
- Fixed installments (fixed repayment dates and amounts defined on a template)
Advantages to the Client:
- Repayment dates to coincide with harvest seasons
- A flexible repayment schedule
- Forward transactions
- Deferred transactions
- Monthly status/movement updates in addition to the statement
- Consolidation of all expenses on one card
- The option to use part of the agricultural limit for cash advances
- The ability to pay life insurance premiums, a requirement for agricultural credit use, by the same card
Advantages to Merchants:
- Bank guarantee on the entire sales revenue
- Forward/flexible transaction alternatives
- Tracking forward receivables
- Protection of the merchant from client risks assumed by the bank
- Itemized tracking/reporting
- Increase in business volume
Credit Reinstatement:
- The card may be suspended due to outstanding agricultural loan repayments. When suspended clients repay their debts, the card is cleared for further transactions.
- The client’s limit is updated and credit is reinstated.
Payment Channels:
- Branches
- ATMs
- Call Centers
- Internet
- Auto Collection
- EFT
- Post Offices
Special Transactions:
- Cash Advance
- Life Insurance
- Calculation of premium
- Premium collection
- Notification of collection to insurance company
- Internet Banking
- Cardholder Transactions
- Tracking
- Statements
- Checks reflected in current accounts
- Outstanding checks
- Limit
- Repayment
- Early check collection
- Merchant Transactions
- Tracking
- Movements reflected to accounts
- Outstanding receivables
- Outstanding checks per client
- Check payment deferral
- Factory Solutions
- Card access
- Supporting factory-specific solutions via cards and POS terminals
- Weighing
- Laboratory
- Accounting systems
- Deposit of harvest revenues to the card
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