Renata to avail ‘Cash Pickup’ service of bKash

Renata Ltd, a pharmaceutical manufacturer of Bangladesh, recently signed a deal with bKash to use its business-to-business (B2B) "Cash Pickup" solution at 19 distribution depots across the country.

Ali Ahmmed, chief commercial officer of the mobile financial service (MFS) provider, and Mustafa Alim Aolad, chief financial officer of the pharmaceutical company, inked the agreement at the latter's head office in Dhaka, said a press release.

Under the deal, the salaries and allowances of workers of Renata's factory and distribution depots would be paid directly to their bKash accounts through bKash's 'disbursement solution'.

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, said the press release. Among others, Syed S Kaiser Kabir, managing director and CEO of Renata, and Kamal Quadir, chief executive officer of bKash, were present.