Bank Alfalah, Punjab Beverages Company Ties Knot to Digitize Supply Chain Payments

Bank Alfalah

Pakistan’s top bank, Bank Alfalah Limited (BAL), has collaborated with Punjab Beverages Company (PBC) to start a trial to digitize retailer of last mile in the supply chain of PBC. The main reason of this project is digitizing enticement payouts and reimbursements for expense incurred by PBC to all its retailers and distributors.

The current situation is that the outgoings are done directly to the distributors and retailers on PBC distributed coupons, cash and/or instruments. This partnership will reap results by the introduction of branded debit card of PBC powered by BAL. This partnership through development of digital payment ecosystem with Punjab Beverages Company will serve as a catalyst to spread the monetary outreach and opportuneness to retailer of last mile in the retail supply chain. The payouts will be done in real-time.

The launch event was hosted by PBC in Faisalabad prior the signing ceremony. There are more than 200 retailers and 2 distributers at the launch event who consistently appreciated the hard work of the bank and displayed enthusiasm in getting the PCB debit card.

Mr. Ammar Naveed Ikhlas, Head of Branchless Banking, Bank Alfalah stated at the occasion,

“Bank Alfalah is committed to achieving the long-term goal of financial inclusion in Pakistan and also bridge the service divide between various social and economic groups within the country. We are excited to have PBC as our partner to initiate this pilot and test our product to gain insights into retailer behaviour on the digitized payments platform. The insights gained from this pilot will help both BAL and PBC to scale up, nurture and grow the digitized payment ecosystem.”

CEO of Punjab Beverages, Mr. Omar Farooq Khan, stated on the occasion,

“Punjab Beverages is committed to digitizing our retail supply chain payments which will not only make the payouts real-time, but also increase retailer confidence and loyalty towards PBC. We are confident that our partnership with BAL will bring access to finance for small business owners through a suite of financial products and services with a focus on PBC supply chain payments.”

Bank Alfalah is a keen protagonist of digital technology in Pakistan, which to it is a way to encourage effectiveness in the country’s banking sector. The bank has initiated similar deals before too, with the aim to digitize different products and services, all with a single aim, providing ease and convenience to customers. It has a wide-ranging eco-system including digital products and services destined to enhance inclusion in Pakistan.

Author: Bankstoday

A little too much known for his rigorous yet exceptional, expository yet artistic and descriptive yet engaging writing style; Muneel is a die-hard professional of writing blogs, web articles, SEO friendly content, story-board script and all the formal types. He has a sheer love for adding unique flavor to each of his works, the client-type.

You Might Also Like