PTC, TMB sign agreement

KARACHI: Pakistan Tobacco Company (PTC) has signed an agreement with Telenor Microfinance Bank (TMB) to enable digital payments between merchants and distributors through Easypaisa.

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

PTC Marketing Director Syed Ali Akbar said that the partnership would not only enable distributors, salespersons and retailers to go cashless, but would also facilitate quick fund transfers and instant cash loans for them. He added that technological advances and innovation could play a key role in business progress and add value to stakeholders. Head of Easypaisa Khurram Malik said, “Digital enablement today allows organisations to reap significant benefits in terms of cost reduction and increase in turnover ratios... This partnership with PTC embodies the shift towards digital payments that we wish to inculcate effectively throughout the country.”