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HCCBPL, SBI tie up to enable 2.6 million retailers to conduct transactions
Friday, 06 January, 2017, 08 : 00 AM [IST]
Our Bureau, Mumbai
Hindustan Coca-Cola Beverages Pvt Ltd (HCCBPL), State Bank of India (SBI) and Coca-Cola India Pvt Ltd. (CCIPL), have entered a strategic partnership to enable over 2.6 million retailers and 5,000 distributors in conducting business transactions digitally.
Arundhati Bhattacharya, chairman, State Bank of India, and T Krishnakumar, chairman and chief executive officer, HCCBPL, and region director, South Asia, signed a memorandum of understanding (MoU), which entails initiating the digitisation process with retailers by onboarding them into SBI’s digital payment options, such as Buddy P2P, Buddy Merchant App and SBI Pay. To aid a smooth transition process, along with SBI authorised trainers, Coca-Cola will provide training to the retailers on new and evolving digital business transaction solutions.
Bhattacharya said, “We are happy to announce this joint endeavour by two leading organisations in response to our prime minister’s vision for a Digital India. Our digital payment platforms such as Buddy, SBI Pay and State Bank Collect provide our customers easy-to-use and convenient modes of transactions. They also act as the tip of the spear for onboarding consumers and merchants to our larger range of financial products.”
Krishnakumar said, “We recognise and support the government’s vision of Digital India centred on making India a digitally empowered economy. We have been forerunners in the digital solution space.”
“While all of our payment to suppliers, and more than 90 per cent of our collections from our partners are digitised, we propose to extend this facility to every retailer in the marketplace. Our partnership with SBI is a step forward in this direction,” he added.
“The digital payment solutions in business transactions will help further strengthen our retail chain ecosystem covering over 2.6 million retailers and 5,000 distributors and will substantially reduce the dependence on cash,” Krishnakumar said.
“There is huge potential in the e-commerce and m-commerce spaces, and this partnership between HCCBPL and SBI will go a long way in capitalising on these fast-growing opportunities,” he added.
Venkatesh Kini, president, Coca-Cola India and South West Asia, said, “As India moves towards digitisation, it is critical that the country’s unorganised retail sector adopt digital payment systems which will provide them an opportunity to further grow their businesses.”
“To bridge the digital gap for small retailers, we have partnered with State Bank of India. This will empower and equip small retailer businesses move from cash-based to digital transactions, which has the potential benefit of making payments more secure and transparent,” he added.
“The inclusion of this new module in our ongoing Parivartan training programme will help retailers to acclimatise to digital payments effectively to increase their money management and business skills while establishing a strong foundation for economic development,” Kini stated.
HCCBPL and CCIPL will leverage Coca-Cola University on Wheels (CCU) under its Parivartan programme to train the retailers and distributors on handling digital payments. The training will integrate SBI’s developed digital payments module into the training capsule.
Additionally, HCCBPL, SBI and CCIPL will create a customised payment solution for retailers and distributors selling Coca-Cola products in India.
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