Pran-RFL, upay sign deal for salary disbursement, merchant payment

Mobile financial service provider upay today signed an agreement with Pran-RFL Group to facilitate salary disbursement and merchant payment.

The customers of upay will also be able to make payments while purchasing products from more than 1,800 outlets of Pran-RFL Group's Best Buy, Vision Electronics, Walker, Tasty Treat, Mithai, Daily Shopping, Regal Furniture, Othoba.com.

"We are very happy that Pran-RFL Group has chosen upay to disburse salary of their factory employees and accepting payments at the retail outlets of various brands owned by the group," said Rezaul Hossain, managing director and CEO of upay.

Uzma Chowdhury, chief financial officer of Pran-RFL, expected collaboration between upay and Pran-RFL Group will increase further in the future.

They both spoke after signing a deal at a programme at a hotel in Dhaka.

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.

After receiving salary in their upay salary wallet, Pran-RFL employees can cash out the money from any upay point across the country at a reduced rate, upay said in a statement.

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 and merchant payment, said Upay, a subsidiary of United Commercial Bank launched in March 2021.