StanChart, GP sign deal to collect bills

Standard Chartered Bank yesterday signed an agreement with Grameenphone to collect the mobile operator's sales proceeds from across Bangladesh.

Under the agreement, Standard Chartered will enable Grameenphone subscribers to pay their phone bills using the bank's One Point Collection Centres and electronic channels like ATM, i-banking, IVR and auto bills pay.

The arrangement will help Grameenphone get faster information regarding receipt of collections and greatly reduce the reconciliation time for their cash/receipts flows.

“This landmark deal will help Grameenphone further cement its position as the number one telecom company in Bangladesh and provide our customers with an excellent user experience,” said Vivek Sood, chief executive officer of Grameenphone.

Abrar A Anwar, Standard Chartered Bangladesh's acting CEO and head of corporate and institutional clients, said: “This agreement is another testimony of our commitment to continuously innovate and provide the best financial solution to our clients and customers and also to bring global best practices to Bangladesh.”

With successful implementation, the initiative will achieve a significant milestone in terms of automation; and thus clients of both organisations will enjoy a more enriching and convenient user experience, according to the statement.