Mobile financial service provider upay on Thursday (23 June) signed an agreement with the country's leading business conglomerate PRAN-RFL Group, to facilitate the disbursement of monthly salaries to employees of different factories of the conglomerate through upay.
Besides, the upay customers will also be able to make payments while purchasing products from more than 1,800 outlets of Best Buy, VISION Electronics, Walker, Tasty Treat, Mithai, Daily Shopping, Regal Furniture, Othoba.com, owned by the business conglomerate, reads a press release.
Rezaul Hossain, Managing Director and Chief Executive Officer of upay, and Uzma Chowdhury, Chief Financial Officer of PRAN RFL group signed the agreement on behalf of their respective organisation at a programme held at a hotel in the city.
Senior officials of both the organisations were present during the signing ceremony.
Commenting on the partnership, Rezaul Hossain said, "We are very happy that PRAN-RFL Group has chosen to disburse the salary of their factory employees and accept payments at the retail outlets of various brands owned by the group. I hope PRAN employees receiving their salaries in upay accounts will enjoy various hassle free financial services offered by upay.
Uzma Chowdhury said, "We have chosen upay as they have some unique features which will be beneficial to our employees. We hope the collaboration between upay and PRAN- RFL Group will increase further in the future."
After receiving salary in their upay salary wallet, PRAN-RFL employees can cash out the money from any upay points across the country at a reduced rate.
upay account has a multi-wallet feature which includes a primary wallet, salary wallet, remittance wallet, and disbursement wallet. The employees will receive the salary in their salary wallet and cash it out from any upay points at reduced cash out charge, the press statement added.
They can also use the money in their upay account to enjoy a wide range of financial services like fund transfer, mobile recharge, utility bill payment, merchant payment, etc.
upay, a subsidiary of United Commercial Bank, launched its operation in March 2021.