Agricover launches Agricover Pay, Europe’s first digital financial platform designed for farmers

Built from the ground and integrating specific needs of agriculture, the new digital platform will progressively add new services for the management and development of farms in Romania.

The financial infrastructure is built by Agricover Payments — a payment institution authorized and supervised by the National Bank of Romania — together with strategic partners. As a principal member of the Visa network, the company issues the Visa Platinum Business card to all app users, while transactions in RON and the assignment of virtual IBANs are handled by Libra Internet Bank.

The investment made to date in the Agricover Pay development exceeds 12 million RON. Agricover benefited of the expertise advantage built around farmers and their financial flows, as well as an integrated business model dedicated to agriculture. The project combines own technological capabilities with strategic partnerships to reduce implementation time and efficiently utilize the resources required for development.

„Agricover Pay is a financial platform built specifically for farmers; it digitizes, connects, and integrates financial services and essential information in one place, enabling them to make the best decisions for their businesses. Agricultural entrepreneurs need solutions that are simple, fast, and well-integrated. We position ourselves as a solution that complements the banking system; as a payment institution, we have the agility and execution speed characteristic of a fintech, allowing us to rapidly launch new products and services tailored to the real needs of farmers.” — Andrei Vasile, CEO Agricover Payments.

Visa Platinum Business, integrated in Agricover Pay

Users’ experience is streamlined through the automatic issuance of a Visa Platinum Business card for every new account created in the app. This allows farmers to benefit from the infrastructure, security standards, and international acceptance of one of the world's largest payment networks.

„Agriculture has specific financial needs, and technology can significantly simplify how farmers manage their day-to-day operations. Integrating digital payments, access to financing, and relevant information into a single platform offers them greater flexibility and control over their financial resources, while also contributing to more efficient working capital management. We are pleased to support Agricover in developing a solution built around the farmers’ real needs and to bring the benefits of Visa digital payments closer to an essential sector to the Romanian economy.” – Elena Ungureanu, Country Manager Visa in Romania. 

Libra Internet Bank provides the banking infrastructure for Agricover Pay payment accounts

Operations within Agricover Pay payment accounts use Libra Internet Bank’s banking infrastructure, including for the allocation of virtual IBANs. Customer funds are protected through a dedicated mechanism, ensuring a secure and transparent framework for processing payments.

„Agricover Pay leverages Libra Internet Bank’s experience in developing digital financial services and integrating modern banking technologies. The collaboration with Agricover and Visa demonstrates how the complementary expertise of partners from different sectors can be transformed into a simplified financial experience built around the needs of farmers.” — Alexandru Biță, Chief Technology Innovation Officer Libra Internet Bank.

From access to finance, to payment, all on a single digital platform

Through Agricover Pay, farmers can manage their payments directly from the app and use their Visa Platinum Business card for the day-to-day farm expenses, both in-store and online.

The integration with Agricover Credit IFN connects financing directly to payments. Customers can view active loans within the app and access available funds from pre-approved working capital lines, allowing for rapid use of capital whenever a need or opportunity arises on the farm. Additionally, customers will be able to digitally submit financing requests to Agricover Credit IFN.

At the same time, the Agricover Pay platform is becoming an essential daily tool for farmers, providing access to information and services vital to their operations. These include price trends for cereals, diesel, and fertilizers. Integration with the Group’s companies will allow clients to view invoices, transaction history, and relevant details regarding their business relationship with Agricover directly within the app.