On the Box selects Spenda to integrate digital payments into their agri platform 

Spenda, an integrated business platform offering a great range of SaaS, payment and lending capacities, is satisfied to report that it has gone into a partnership with On the Box, a site for agents and vendors to trade business cattle, sheep, goats and machinery, to incorporate digital payment arrangements into their platform. 

The global B2B e-commerce market for agriculture is expected to reach $11.86 Billion By 2030, with the fastest growth expected to occur across the Asia-Pacific region. The region’s growth is fuelled by a rising demand for food and agricultural products, alongside a growing embrace of technology in the sector.  

However, as demand increases, there’s a necessity for streamlined payment processes and improved cash flow management throughout the entire supply chain. 

“In partnership with Spenda, vendors will be able to access short-term finance if they get caught short, needing to buy a lot. Spenda will deliver a fully integrated digital payment solution through On The Box allowing everyone in Ag to transact efficiently and get paid quicker,” CEO of On the Box, Greg Szudrich said. 

By using the Pay Statement by Link product, Spenda will deliver a fully integrated digital payment solution through the On the Box platform, allowing stakeholders in the agricultural supply chain to transact efficiently and get paid quickly.  

Buyers will have access to virtual trade accounts using Spenda’s lending and card blended finance, which will enable them to purchase goods from the On the Box platform with extended payment terms. 

“We’re happy to team up with On the Box to make payments easier for their customers. This collaboration is a positive step forward in the Agri sector as we strive to modernise and streamline the digital farming experience and deliver greater payment efficiency and better cash flow management for both trading partners in any transaction,” Spenda Managing Director, Adrian Floate said.