New Delhi, Nov 23 (PTI) Agri-tech firm AgriBazaar on Tuesday said it has revamped its virtual payment solution agriPay to provide additional security and enhanced convenience to users while transacting on its platform.

The company, in a statement, said trading on AgriBazaar involves an earnest money deposit (EMD)/security deposit (SD) by both parties - buyers and sellers – to ensure nobody backs out amidst the trading process, thus making the user experience more seamless.

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Users can simply park their money in the agriPay account and utilise it for making multiple trade transactions. Users will get immediate refunds if the trade fails due to any glitch or other reasons, it said.

Using the AgriBazaar mobile app, users can seamlessly add money to their agriPay account instead of sharing bank or card details, AgriBazaar Co-founder and CEO Amith Agarwal said.

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"We hope this solution transforms the traditional payments mechanism into a one-stop payment avenue that enables both buyers and sellers to carry out transactions more seamlessly with the highest safety and security," he added.

India has seen a rapid uptick in the digital payments vertical, even in the agriculture sector. It is fast, secure and most importantly prevents users from visiting banks physically, he noted.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)