Coca-Cola India partners the State Bank of India for digital transaction

Posted on:04 Jan 2017 09:39:48
Coca-Cola India partners the State Bank of India for digital transaction
04 January 2017 Current Affairs: Coca-Cola India and its largest bottling partner Hindustan Coca-Cola beverages have partnered the State Bank of India (SBI) to enable over 2.6 million retailers and 5000 distributors in conducting business transactions digitally. 

All our distributors remit to us on an electronic basis only so all that is already digitized. This whole approach is to ensure that the consumer to retailer transactions become digital so that the payment from the retailer to the distributor can also be digital .

As per the agreement, SBI will educate retailers on digital transactions and even a customised payment solution for retailers and distributors selling Coca-Cola products will be developed. 

As an incentive for going cashless, retailers and merchants will also be able to access loans and other financial services from the bank .

The initiative will be rolled out state-wise starting February. 

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