Robi has introduced an innovative digital initiative, Retailer Liquidity Management service for its retailers.
The service will empower retailers to avail Easyload recharge anytime as an advance to facilitate their business operations by simply dialing a USSD code, said a press release.
Robi has partnered with the Mutual Trust Bank (MTB) and fintech company, YABX to launch this service.
This anytime, anywhere ubiquitous availability of liquidity for retailers will help to achieve multiple objectives, including retailers getting access to immediate Easyload top-up, avoiding ‘low balance’ failure scenarios, improving retailer and end-customer experience, etc.
The Robi retailers will also be able to choose from multiple product options, i.e. 1-day, 3-day, or 5-day loan as per their business requirements.
Robi’s Managing Director and CEO, Mahtab Uddin Ahmed termed this initiative as a milestone achievement towards complete digitalization of the company’s distribution network.
In light of the company’s mission to be recognized as an innovative and client focused company, MTB’s CEO, Syed Mahbubur Rahman said it is a great initiative to help retailers gain financial independence in their businesses that will drive the overall economic value.
The advance limit for the retailers will be derived using YABX’s state-of-the-art decision analytics engine using advanced machine learning tools. The entire customer journey from onboarding of retailers, disbursal, and collections would be enabled using YABX’s digital platform.
Speaking about the service, Rajat Dayal, Founder and CEO of YABX said “Usually retailers rely heavily on cash to recharge their account which leads to problems like lack of liquidity management, Distributor Sales Representative (DSR) not recharging retailer’s account in time, security risks of handling cash, continuous alienation from financial ecosystem, etc. YABX aims to help the retailers get access to easy and affordable Easyload recharge options while also enabling them to plan, manage and grow their business more efficiently.”
Incubated by Comviva, a global leader in mobile financial services, YABX is part of the $21 billion Mahindra Group and currently operates out of The Hague, New Delhi, Bogota and Nairobi. YABX aims at simplifying financial access to over two billion unbanked customers.
In the long run, Retail Financing will enable the retailers to run their business without any additional working capital. In the current pandemic scenario, when the income of many small entrepreneurs like retail owners have gone down, this unique benefit will enable them to conduct their business without having to take the burden of high cash requirement.
Source: United News of Bangladesh