Renata Pharmaceutical Ltd has signed a memorandum of understanding to use bKash's B2B “Cash Pickup” service at 19 distribution centres across the country.
Ali Ahmed, chief commercial officer of bKash, and Mustafa Aleem Awlad, chief financial officer of Renata Limited, signed the MoU on behalf of their respective organizations, according to a press release.
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This initiative will save time and money in the organization's supply chain at the depot and field level financial management, which will also contribute to business expansion, it said.
This type of B2B solution will make the transaction from manufacturer to seller easier, transparent, and secure, it also said.
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At present, customers are buying medicines from most of the country's pharmacies and paying through bKash. On the other hand, drug sellers can also pay the price of products purchased from Renata directly through their bKash merchant account, said the release.
In this way, the service will enhance the financial management of the supply chain of pharmaceutical and other industries and contribute to strengthening the country's digital payment ecosystem, it said.
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bKash CEO Kamal Kadir, Renata Limited MD and CEO Syed S Qaiser Kabir, EVP and Head of government partnership and business sales of bKash Mashroor Chowdhury, among other were present at the signing.