Farmers Are Finally Ready to Put the Paper Check out to Pasture

In 2023, agriculture, food and related industries contributed a staggering $1.5 trillion to the U.S. GDP, representing about 5.6% of the total economy. Despite this major economic role, farmers — who contributed $203 billion to that figure — are still primarily relying on an outdated method of handling their finances: paper checks. "One big paper check at a time is what we’re still doing in agriculture,” Jake Joraanstad, CEO at Bushel, told PYMNTS’ Karen Webster.