Latest / Leaders In Payments / Jake Joraanstad, CEO & Co-Founder of Bushel | Episode 281

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Jake Joraanstad, CEO & Co-Founder of Bushel | Episode 281 · Leaders In Payments

• 0:01
  Speaker 1: Welcome to the Leaders in Payments podcast, where we talk to C-level leaders from across the payments landscape.
• 0:06
  Speaker 1: We'll be discussing the products and services that impact the payment space today, as well as trends and predictions for the future of payments.
• 0:14
  Speaker 1: We will also hear stories from our guests about their journeys to the top.
• 0:18
  Speaker 2: It's incredible how far-reaching payments technologies are going, I mean agriculture again being one of the last places we're finally arriving where it makes sense that we should be talking about why the paper check still exists.
• 0:29
  Speaker 2: But kudos to those who kind of blaze the path before us.
• 0:32
  Speaker 2: Some of our technology stack relies on some of these partners in the space.
• 0:36
  Speaker 2: We would have a much heavier lift if we would have started five or ten years ago on payments.
• 0:40
  Speaker 2: So kudos to those who are making an impact here in the space and proud to say we're joining in on the party.
• 0:51
  Speaker 3: That was Jake Jorenstad, the CEO and co-founder of Bushel, and he is my special guest on this episode, episode 281 of the Leaders in Payments podcast, and I'm your host, greg Myers.
• 1:00
  Speaker 3: Bushel provides digital tools that helps drive productivity and profitability in the agricultural industry.
• 1:06
  Speaker 3: Jake and I talk about Bushel, how and why Jake and his co-founder started the company, what makes it unique, and the importance and challenges of removing paper, specifically the check, from this industry that is often lagging when it comes to technology adoption, and we're going to get into a great episode ahead, so let's get started.
• 1:25
  Speaker 3: Hi, jake, thank you for being here and welcome to the Leaders in Payments podcast.
• 1:31
  Speaker 3: Hey, greg, thanks for having me on, absolutely, so let's dive right in.
• 1:35
  Speaker 3: If you don't mind, tell our audience a little bit about yourself, maybe where you grew up, where you went to school, where you currently live, a few things like that.
• 1:41
  Speaker 2: So I am from the great state of North Dakota.
• 1:44
  Speaker 2: I grew up right in the middle north of the state, about 10 miles from the Canadian border.
• 1:50
  Speaker 2: We're all North Dakota town.
• 1:52
  Speaker 2: A couple thousand people came to the big city of Fargo, North Dakota, for school Computer engineering background took me four and a half years and a 2.7 GPA overall to get through.
• 2:03
  Speaker 2: But I did it and in the middle of that started building software and have been in the software space ever since and have built this company with my co-founder, Ryan.
• 2:12
  Speaker 3: Well, let's talk about the company Bushel.
• 2:14
  Speaker 3: So what does Bushel do?
• 2:15
  Speaker 3: We?
• 2:16
  Speaker 2: are a software company, but our focus is agriculture and, in particular, think about the larger scale crops that we grow here in the United States and in Canada corn and soybeans, the farmers that work in those what we call row crops and grain.
• 2:31
  Speaker 2: So we help their supply chain partners, these co-ops, elevators.
• 2:36
  Speaker 2: If you've ever driven around in rural America, you see these tall metal silos.
• 2:41
  Speaker 2: Those are our customers a lot of times and what we do is we build a farmer's sort of portal technology that allows their customer, the farmer, to go in and see all the transactions that they're doing with those facilities when they sell their grain, when they purchase their fertilizer.
• 2:58
  Speaker 2: Think about it like when the bank finally came out with a mobile app and a portal for us to see all the transactions we're doing and make deposits.
• 3:05
  Speaker 2: That's the same thing, except apply it to agriculture.
• 3:08
  Speaker 2: And so we have just over 70,000 farms in the US using that tool set and US and Canada both.
• 3:15
  Speaker 2: And before the tools that we provided and some of these capabilities that we built for the industry, there was a lot of paper based transactions, so paper receipts.
• 3:25
  Speaker 2: Whenever they made a delivery with their truck and dropped off their grain, they sold, which happens many, many times a year to paper contract in the mail to agree to, to.
• 3:34
  Speaker 2: Even still today, something like 85, 90% of those payments to the farmer are going out on paper check, and so we've taken on the initiative to change all that and make that all part of the digital infrastructure.
• 3:48
  Speaker 3: So was the goal when you set out to?
• 3:51
  Speaker 3: Was it more payments focused or was it more building the software, and payments got added to it.
• 3:57
  Speaker 2: So it was really not a payments business in our initial goal.
• 4:00
  Speaker 2: Really, the challenge was more fundamental than that just removing these paper transactions and making them more efficient.
• 4:06
  Speaker 2: Let's say a farmer grows corn in Iowa.
• 4:09
  Speaker 2: They do a lot of deliveries a year of their corn many, many truckloads Call it 10s or potentially 100 truckloads a year, depending on how big their farm is and they basically had to keep track of that with some paper-based receipts.
• 4:23
  Speaker 2: They write it down, maybe on a spreadsheet.
• 4:25
  Speaker 2: They'd have to try to calculate how much money they are making or losing throughout the year based on the markets, which are always moving, and there wasn't a lot of tools to do that.
• 4:34
  Speaker 2: Well, and the big part of the problem was the facility that they sell to this what we call the co-op, or the grain company or the retailer that services the farmer, lets them sell their grain in there, didn't have these capabilities either, and a lot of them aren't big enough by themselves to build these technologies.
• 4:49
  Speaker 2: They don't have big technology teams, and so we saw it as an opportunity for a SaaS offering that could scale across the industry.
• 4:56
  Speaker 2: And, of course, there's all kinds of challenges.
• 4:58
  Speaker 2: You're doing complicated integrations with different facilities.
• 5:02
  Speaker 2: You're trying to figure out what software they need to integrate with to make your tools work, and so that's where we're coming from, and it just so happens that, as we made our path down this sort of digitization efforts, payments are one of the last places.
• 5:16
  Speaker 2: That's still significant paper with the paper check today.
• 5:19
  Speaker 2: So that's how we landed there and how long have you been in business.
• 5:22
  Speaker 2: We launched Bushel in 2017 as a product and raised some capital, and prior to that, our business was really software consulting since 2011.
• 5:31
  Speaker 2: So we've got a lot of experience, but the Bushel product and software launched in 2017.
• 5:36
  Speaker 3: How did the pandemic affect your business?
• 5:38
  Speaker 3: Good or bad, or didn't?
• 5:40
  Speaker 2: It was really scary to start.
• 5:42
  Speaker 2: Some of our more project based work dropped like a rock.
• 5:46
  Speaker 2: We had probably worked at what it would have taken 20 or 30 people just went to zero.
• 5:52
  Speaker 2: In called April that year, as companies were reacting and trying to figure out what they're going to do.
• 5:57
  Speaker 2: Of course, eventually, if you stick it out, the business comes back, but there were some hairy things.
• 6:02
  Speaker 2: Our customers the green elevator is in a small local town.
• 6:06
  Speaker 2: Maybe they've got 100 people or maybe 1500 people in the town and they've never had to work remote in their life.
• 6:13
  Speaker 2: There's never been a requirement to ever not be able to be in the office.
• 6:17
  Speaker 2: They might only live a few blocks from there, and so this was a real test of the technologies, how we were doing things in a way in agriculture that had never presented itself before, and a lot of agriculture is a very physical thing and relationships are important and so the industry had to evolve quickly, and so I think the net of it is that our customers and our companies that we work with in Ag realize they need to accelerate some of these initiatives around technology.
• 6:44
  Speaker 3: And I'm asking this question, but I don't know if you have.
• 6:47
  Speaker 3: I assume you have some type of competition, but what would you say differentiates you from your competitors out there?
• 6:54
  Speaker 2: Our approach was kind of unique in first to market back in 2017.
• 6:58
  Speaker 2: Since then, there's been a few sort of business model copycats, or fast followers, you might call them.
• 7:03
  Speaker 2: Our approach has been pretty heavy initially on the grain industry, so very focused on being the best that we can be in enabling these farmers to grow these crops.
• 7:13
  Speaker 2: As we've evolved over time, our tools have to become more commercial capable and easier to use.
• 7:18
  Speaker 2: But I would say one of our biggest differentiations has been that we haven't just built technology that can do functions but that have gotten real and significant adoption and made meaningful impact for our customers.
• 7:31
  Speaker 2: We have over 40% 50% adoption by the farmer user that does business with these companies of these tools, which is significant.
• 7:39
  Speaker 2: You know, before this, I think 10% was a hope and a dream for a lot of technologies to be adopted in the space, and we continue to show that every time we brought out a new capability or a new feature that the adoption can happen and the farmer views these tools as helpful for their business, and so that's been a big differentiator for us.
• 7:57
  Speaker 3: How important is the mobile aspect to what you do, versus sort of a?
• 8:02
  Speaker 3: Like you said?
• 8:03
  Speaker 3: Most of these people are used to being in an office at a facility, but it sounds like you have a mobile app as well.
• 8:09
  Speaker 3: How has that adoption gone?
• 8:11
  Speaker 2: Actually, our go-to-market was mobile first, and still is really today.
• 8:15
  Speaker 2: Back in 2017, that was a little bit unheard of because you had this pushback all farmers my farmer doesn't have a cell phone or my farmer doesn't use a smartphone.
• 8:24
  Speaker 2: That was never really true, but the perception was that these farmers weren't ready for these tools.
• 8:29
  Speaker 2: But in reality, the farmer is one of the most sort of mobile centric people out there doing work, because they're always in the truck, in the combine, in the tractor going to town.
• 8:38
  Speaker 2: They don't sit in front of the desk very often and so our go-to-market was a native good experience on iOS and Android in the early days and that's really been a big differentiator for us at the beginning.
• 8:50
  Speaker 2: But of course, everybody has to do that today.
• 8:53
  Speaker 3: But that was one of our go-to-market differentiators was the ability to deliver a really nice mobile experience for the farmer, anywhere that they were, and give us maybe a step through kind of a typical use case, maybe from adoption of the product to how exactly people would use it and within that, maybe use case calling out sort of where the payments aspect makes the most impact.
• 9:16
  Speaker 3: Think about the farmer.
• 9:17
  Speaker 2: They have a cycle every year.
• 9:19
  Speaker 2: They plant in the spring, so they've got to purchase their seed, chemical and fertilizer, whatever it takes to grow their crop.
• 9:26
  Speaker 2: At the beginning of the year they put it in the ground, usually in April, and throughout the summer they're tending it right and they're paying attention to it and treating it and doing the right things to keep that crop on track to produce as much as possible, and this with the right qualities.
• 9:40
  Speaker 2: And then in the fall they have to go out and harvest it.
• 9:43
  Speaker 2: So they bring their combine out and they cut it down and they process it into and they dump it into a truck and the truck has to go to town and sell it at the local elevator.
• 9:52
  Speaker 2: And throughout the year the farmers got to make decisions on when and how they sell it, and they can sell parts of their crop earlier in the year and later in the year.
• 9:58
  Speaker 2: And as they're doing all that, they've got to keep track of where they're at in their position, what contracts have they done and what have they achieved so far, and so our tools help them do that.
• 10:07
  Speaker 2: But in the end, the crop that the farmer sells is the main revenue source.
• 10:12
  Speaker 2: It's like their paycheck for the year, but they don't get it until the fall.
• 10:16
  Speaker 2: So it's really important for them to know what they've delivered and the quality and are they going to get paid the total amount that they expected and keeping up with those numbers.
• 10:24
  Speaker 2: And of course we've done all that to make it easy for the farmer.
• 10:27
  Speaker 2: But they got to the settlement where they get paid for that grain, and it was issued on a paper check, so they knew what they were going to get paid in the dollar amount, and our system knew that.
• 10:36
  Speaker 2: But then the facility would print the check and send it in the mail.
• 10:39
  Speaker 2: Then the farmer, who happens to not live in town, typically because they're on a farm, has to run to town to deposit that check, and that can be hours and hours of their time a week.
• 10:48
  Speaker 2: And so we saw it as an opportunity to go.
• 10:51
  Speaker 2: You know what this is a call it almost half a trillion dollars of payments to farms in the US a year.
• 10:58
  Speaker 2: This is an opportunity to fix a paper-based process and make it easier, more accessible and save everybody time, and so we worked on our payments ability to make that part of our program and part of our platform.
• 11:11
  Speaker 3: In the payments and fintech industry.
• 11:13
  Speaker 3: Merchants and their customers have increased expectations around Omni-Channel commerce.
• 11:17
  Speaker 3: So, in collaboration with NMI, the fully integrated payment solution built to scale, we've launched the Be Solid campaign where, in this series, we'll explore the ability to accept payments anytime, anywhere, using any device.
• 11:29
  Speaker 3: We'll dive deep into mobile acceptance via contactless tap on phone, qr codes, wallets and more.
• 11:35
  Speaker 3: We will hear from companies like Othvia, canalote, google and more.
• 11:39
  Speaker 3: To listen to the latest episodes, visit leadersandpaymentscom or NMIcom.
• 11:45
  Speaker 3: Slash resources, slash podcasts.
• 11:47
  Speaker 3: In a world full of squares and stripes, be solid.
• 11:50
  Speaker 3: Where do you see the industry headed?
• 11:54
  Speaker 3: And you can answer that in terms of the payments aspect specific to your segment, or, if you want to answer it from a more broad perspective, that's great too.
• 12:03
  Speaker 3: But where do you see it headed, say, in the next maybe three to five years?
• 12:07
  Speaker 2: Just like everything in all these other industries outside of Ag, eventually the technology adoption happens and the curve happens, but there has been, I would argue, a lag in agriculture, where it's just taken longer to get some of these core technologies adopted that you've seen in other industries.
• 12:23
  Speaker 2: Even sometimes you could argue it's slower than healthcare Kinsley says it's dead last in terms of digitization is in agriculture.
• 12:30
  Speaker 2: And so what?
• 12:31
  Speaker 2: Our prediction is that the farmer is going to continue to become more impressive and more capable than ever before.
• 12:36
  Speaker 2: The farmer has never been the part of the problem that is lacking in terms of adoption of tools and technology that make their life better.
• 12:43
  Speaker 2: But the facilities really need to change.
• 12:47
  Speaker 2: They have been operating the same for over 100 years these co-ops and these systems that are out there, and so they're all investing heavily in some of these technologies and tools and we're going to see a pretty big evolution I would argue maybe a revolution in terms of speed of transactions and how often things can be settled out and decisions can be made and then executed on in the ag industry that we have not seen in the last 10 years, over the next five or 10.
• 13:13
  Speaker 2: And it's because the infrastructure, the digital infrastructure that we're helping build at Bushel is coming online.
• 13:19
  Speaker 2: There's more and more connectivity, we're finally figuring out how to share information better, and it's going to lead to farmers life hopefully getting easier.
• 13:27
  Speaker 2: They're going to have to do more with less, and our customers, those co-ops and grain companies they're going to have to do more with less, because the labor challenge will exist into the future, and if you live in rural America, small town, it's not easy to just go and replace somebody, and so technology is one of those few places that you can invest in.
• 13:46
  Speaker 2: That doesn't necessarily require more people, and hopefully it allows you to do things with less, and so you're going to see a quite a big shift in the next few years there, and our job, in particular on the payment side, is to show that paper checks are not long for agriculture, as they have not been long for most industries, and really get some significant adoption in that area.
• 14:04
  Speaker 3: Do you see a trend towards the older generation retiring in the younger generation taking over the farm and that driving more digital in that space?
• 14:15
  Speaker 2: It's a component of it.
• 14:16
  Speaker 2: We've been talking about in the industry for fifteen, twenty years or probably forever, that the older generation retiring.
• 14:23
  Speaker 2: The truth is the older generation has taken longer to retire than maybe people expected in the farmers working in their seventies and not necessarily taking pass on the farm on yet.
• 14:33
  Speaker 2: But every single day the new farmer shows up and is taking over things and although the older ones are still involved in the younger generations already involved in the farm, they may not run it completely but they're the ones in charge of some of these technologies and dad's asking their son to you know, go and set us up with this account with the bushel tool.
• 14:52
  Speaker 2: Let's have my son do that.
• 14:54
  Speaker 2: I don't need to learn that I'll retire in a couple years, but they're taking over, taking the reins, and it's been happening now in my would say it'll become pretty obvious in the next few years that the average farmer is very capable.
• 15:05
  Speaker 2: These technologies can, regardless of their age.
• 15:07
  Speaker 3: Well, let's switch gears a little bit and talk about you.
• 15:10
  Speaker 3: So tell us about your journey to your role.
• 15:12
  Speaker 3: There is the co-founder and c e o maybe fill in the gap between college and sort of where you are today.
• 15:18
  Speaker 2: Well, we started off I mean, when you're in your early twenties building a software company, you just wear all these different hats as the company evolves.
• 15:27
  Speaker 2: Today were over a hundred fifty people on the team when we started.
• 15:30
  Speaker 2: It was just myself, my co-founder and a few friends that we had hired from college To help us build these tools, and we were consulting business.
• 15:37
  Speaker 2: I was a project manager.
• 15:39
  Speaker 2: I was one point, my teammates fun of it but I was a designer in the sense of helping design with the screen should look like for a customer.
• 15:46
  Speaker 2: I should never been doing those things.
• 15:47
  Speaker 2: I was never a great software engineer, but what I was good at I learned how to get better at this skill over the years is identifying good people and people with a skill sets we needed, and one of the things as an entrepreneur you can have a fear Bring people on that are smarter and better than you are at all these things in your job every day is the higher people that can do things that you were not good at, and you should only really do the things that, maybe uniquely, only you can do and do the best, and the rest of it needs to be with your team, and so I think one thing that we've been good at is building a good culture and a good team here at bushel over the years and me admitting early on in my career that I wasn't a great engineer.
• 16:28
  Speaker 2: I wasn't a great software person to build the software.
• 16:31
  Speaker 2: Help me be a better delegate throughout my business journey, I think what are some things you're passionate about?
• 16:37
  Speaker 3: so maybe one personal passion in one business passion well.
• 16:41
  Speaker 2: On the business side, I'm just super passionate about technology adoption in the agriculture space in particular, where it's think it's still the biggest opportunity that remains in major industry to adopt.
• 16:52
  Speaker 2: And so as an early adopter technology myself it's I could see why the smartphone was gonna change the way we did business and how we interact, and I could see right now you're looking at a I, potentially the probably the most important technology in the 21st century, and this is gonna disrupt a lot of things.
• 17:10
  Speaker 2: But it's also gonna make us better at a lot of things, and so I'm pretty passionate about helping our customers understand how these Changes in technology can make them better and they don't not to be scared, but to embrace these technologies.
• 17:21
  Speaker 2: I mean, you cannot avoid or moderate or run from technology and change.
• 17:27
  Speaker 2: That's just inevitable.
• 17:28
  Speaker 2: And so how do you embrace?
• 17:29
  Speaker 2: It is pretty something I'm pretty passionate about.
• 17:31
  Speaker 2: Champion in our industry.
• 17:33
  Speaker 2: And then on the personal front, I have a family, but I also have a hobby.
• 17:39
  Speaker 2: My only hobby that I can afford to have and I enjoy a lot, is cars, and in particular, I race touring cars in a series called grid life here in the United States.
• 17:48
  Speaker 2: So I go to some big race tracks, road america and Mid ohio in circle americas in texas and I go racing so fill us in on what kind of cars for us that don't know.
• 17:59
  Speaker 3: Tell us what that means.
• 18:00
  Speaker 2: So if you pull up the TV, you probably have seen NASCAR.
• 18:04
  Speaker 2: You might be a fan of F1.
• 18:05
  Speaker 2: Now, after Netflix brought that series out, it looks a lot more like F1, but really slow compared to an F1 car.
• 18:12
  Speaker 2: We're running cars that you could buy, from a Honda Civic to an older Corvette.
• 18:16
  Speaker 2: I run a Honda S2000.
• 18:18
  Speaker 2: It's a sports car from Honda, rear wheel drive and run these big tracks, so they're asphalt, not dirt, and we run 40 to 50 cars in a race.
• 18:26
  Speaker 2: They throw the green flag.
• 18:27
  Speaker 2: We race four times a weekend for 20 minutes a piece, and every single car on the track in my group, called Gridlife Touring Cup, is all racing for first place.
• 18:36
  Speaker 2: We're all the same class and so we're pretty equal in terms of the car, and so the driver is the big differentiator.
• 18:42
  Speaker 2: And, if you're wondering, I have never won yet in all five years of me attempting, so we're still working on getting better.
• 18:49
  Speaker 3: Well, that's why you keep going back, right?
• 18:53
  Speaker 2: Yeah, I mean, part of it's the challenges.
• 18:54
  Speaker 2: You know, I think I enjoy competition a lot.
• 18:56
  Speaker 2: I wouldn't be in business, probably, if I didn't like this, and so, yeah, that's a big motivator.
• 19:00
  Speaker 2: If I can't be the best at it right away, that's a motivation, but if I feel like I'm always improving, then it's something I want to stick to and this is something that I've just really enjoyed.
• 19:09
  Speaker 2: And we do it under the banner of a company or a racing team.
• 19:12
  Speaker 2: We call myriad motorsports M-Y-R-I-A-D, myriad motorsports.
• 19:17
  Speaker 3: So one business question I wanted to go back to and kind of mentioned it when you were talking about your passion on the business side and you did this early in your career right the consulting stuff.
• 19:27
  Speaker 3: Is it fair to say that your sales are really consultative sales, like you're probably incorrect me, if I'm wrong You're not out there running banner ads on Facebook and signing up farmers.
• 19:38
  Speaker 3: You're doing consultative selling.
• 19:40
  Speaker 3: Is that fair?
• 19:40
  Speaker 3: Spot on.
• 19:41
  Speaker 2: Consultative selling and really it's a B2B sale Even the farmers of business.
• 19:46
  Speaker 2: But we don't necessarily sell most of our tools to the farmer.
• 19:49
  Speaker 2: We sell to their co-op or their facility.
• 19:51
  Speaker 2: They work with their business, so it's a consultative.
• 19:54
  Speaker 2: A lot of times there's an in-person meeting along the way to build buy-in from the leadership team.
• 20:00
  Speaker 2: It's an annual or multi-year commitment.
• 20:01
  Speaker 2: These aren't small dollars, right?
• 20:03
  Speaker 2: Sass?
• 20:03
  Speaker 2: Contracts are tens of thousands, hundred thousands or even millions of dollars a year, and so it's a consultative sale.
• 20:10
  Speaker 2: It's a value-based proposition.
• 20:12
  Speaker 2: How can we create value for your business?
• 20:14
  Speaker 2: And here's the technology we're going to put in to do it.
• 20:16
  Speaker 3: And one final question.
• 20:18
  Speaker 3: So, having been in payments myself for quite a while now kind of fell into the space.
• 20:24
  Speaker 3: Didn't really go after and look at payments, go.
• 20:27
  Speaker 3: I'm going to build a career there, but I think that's sort of changed right.
• 20:31
  Speaker 3: I think the kids these days coming out of college or university see payments in fintech and a lot of this financial services stuff is kind of a hot, sexy industry to go into.
• 20:41
  Speaker 3: So what advice would you give someone say they come to you looking for a job or they're looking to build a career and payments?
• 20:49
  Speaker 3: What would you tell them they need to do to be successful?
• 20:52
  Speaker 2: Well, I think one of the big problems in the payment space right now is picking a company to initially spend your time with.
• 20:59
  Speaker 2: That's pretty important because in reality, there's a lot of solutions.
• 21:04
  Speaker 2: Looking for a problem in the payments world, and so really do your vetting on is this really a problem that needs to be solved?
• 21:12
  Speaker 2: Is it a meaningful problem that is worth solving?
• 21:16
  Speaker 2: And then, do you trust and want to be working with the types of people you meet along the way?
• 21:20
  Speaker 2: You know you've got buzz and there's a lot of craziness about the space, but you've got to be working on problems that matter.
• 21:26
  Speaker 2: And if you ever need a book recommendation Bold BOLD, by Peter Diamandis is a great one to think about.
• 21:32
  Speaker 2: Like what projects could you work on that make a meaningful impact in the world?
• 21:36
  Speaker 2: And payments is a big part of our life, right?
• 21:38
  Speaker 2: The money movement in the world of money is important, but that doesn't mean every little problem and every little small detail in the stack is worth really building on, and so think hard about who you're going to jump in with and where you're going to spend the majority of your life you spend working, where you're going to spend that at, and I think it's important to think about doing it in a meaningful place.
• 21:59
  Speaker 3: I think that's really sound advice.
• 22:01
  Speaker 3: Well, jake, we've covered a lot of ground so far, obviously, about you and the company and the future.
• 22:06
  Speaker 3: Is there anything else you'd like to add before we wrap up the show?
• 22:09
  Speaker 2: Thanks for doing this, and it's incredible how far reaching payments technologies are going.
• 22:14
  Speaker 2: I mean agriculture again being one of the last places.
• 22:17
  Speaker 2: We're finally arriving where it makes sense that we should be talking about why the paper check still exists.
• 22:21
  Speaker 2: But kudos to those who kind of blaze the path before us.
• 22:25
  Speaker 2: Some of our technology stack relies on some of these partners in the space.
• 22:28
  Speaker 2: We would have a much heavier lift if we would have started five or 10 years ago on payments.
• 22:33
  Speaker 2: So kudos to those who are making impact here in the space and proud to say we're joining in on the party.
• 22:38
  Speaker 3: Well, Jake, thank you so much for being on the show today.
• 22:40
  Speaker 3: I know your time is very valuable, so I really appreciate you being here.
• 22:43
  Speaker 3: Thanks for having me.
• 22:43
  Speaker 2: Greg and keep going on the show.
• 22:45
  Speaker 2: I appreciate it.
• 22:46
  Speaker 3: Absolutely, and to all you listeners out there, I thank you for your time as well, and until the next story.
• 22:52
  Speaker 1: Thank you for joining us this week on the Leaders in Payments podcast.
• 22:55
  Speaker 1: Make sure you visit our website at leadersinpaymentscom, where you can subscribe to the show and where you'll find our show notes.
• 23:02
  Speaker 1: If you enjoyed listening, please share on your social channels as well.