PRAN-upay deal on salary disbursement

FE Team | Published: June 25, 2022 22:42:54

Mobile financial service provider upay signed an agreement with the country's leading business conglomerate PRAN-RFL Group to facilitate the disbursement of monthly salaries to the employees of different factories of the conglomerate through upay, says a press release.
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 and Othoba.com, owned by the business conglomerate.
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 organisations at a programme held at a city hotel recently.
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 unique 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 reducedcash out charge.
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. upay customers enjoy a range of services, including fund transfer, utility bill payment, merchant payment, airtime recharge, traffic-fine payment, Indian visa fee payment, receiving inward remittances, salary and government social safety net, and other value-added financial services.