Renata Limited to use 'Cash Pickup' service of bKash

Renata Limited, one of the leading pharmaceutical manufacturers in the country, signed a deal with bKash to use its B2B (Business to Business) 'cash pickup' solution at 19 distribution depots across the country. 

As a result, the company will save time and money in financial management at those depots as well as help expand the business, reads a press release.

This type of B2B solution will make financial transactions easy, transparent and secure in every step of the supply chain starting from manufacturer to retailers. Currently, customers all across the country can make bKash payment while purchasing medicine at drugstores. 

Due to this B2B solution, drugstores will also be able to pay the wholesale price of Renata products directly through their bKash merchant account. This B2B service is expected to strengthen the country's digital payment ecosystem as well.

The agreement was signed between Ali Ahmmed, Chief Commercial Officer of bKash and Mustafa Alim Aolad, Chief Financial Officer (CFO) of Renata Limited. Among other dignitaries, Kamal Quadir, CEO of bKash; Syed S Kaiser Kabir, CEO & Managing Director of Renata Limited; Masrur Chowdhury, EVP & Head of Department, Government Partnership & Business Sales of bKash were also present.

Besides, under this agreement, the salaries and allowances of workers of Renata's factory and distribution depots would be paid directly to their bKash accounts through the bKash's 'disbursement solution'. Getting their salaries in bKash accounts, these workers can enjoy different services of bKash like send money, mobile recharge, utility bill payment, grocery and shopping payment, purchasing bus-launch-train-air ticket, savings, etc.

If the pharmaceutical sector is considered, Renata is the first company to use bKash's B2B 'cash pickup service. It is to be noted, many of the top companies in cement, beverage, lifestyle and food have already been using this B2B 'Cash Pickup' solution of bKash.