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ISLAMABAD: Pakistan Tobacco Company Limited has signed an agreement with Telenor Microfinance Bank on Friday to digitize its Route to Market structure. The agreement paves the way for introduction of digital transaction channels into PTC's supply chain by enabling digital payments between merchants and distributors through the Bank's mobile banking platform Easypaisa.

The cooperation deal was signed by Syed Ali Akbar, Marketing Director, PTC and Khurram Malik, Head of Easypaisa, Telenor Microfinance Bank at a local hotel in Islamabad. The agreement broadly covers three aspects of supply chain digitization including merchant to distributor (M2D) payments, digital loans for PTC retailers through category lock solution and digital disbursement of incentives to retailers.

While commenting on this partnership with Telenor Microfinance Bank, Syed Ali Akbar, Marketing Director , PTC said that the partnership will not only enable our distributors, salespersons and retailers to operate in a cashless modus operandi by solving cash management issues but will also facilitate quick fund transfers and instant cash loans for them. He added that technological advances and innovation can play a key role in business progress and to add value to stakeholders.

Speaking on the occasion, Khurram Malik, Head of Easypaisa, Telenor Microfinance Bank said, "Digital enablement today allows organizations to reap significant benefits in terms of cost reduction and increase in turnover ratios. It is our goal to provide a reliable and convenient banking infrastructure to individuals and businesses across the country through collaboration with like-minded companies. This partnership with PTC embodies the shift towards digital payments that we wish to inculcate effectively throughout the country".

Through this partnership, seamless Merchant to Distributor (M2D) payments are being enabled along with extension of digital lending to retailers so that they can pursue business expansion and facilitate regular operations.

Copyright Business Recorder, 2020