Hindustan Coca-Cola ties-up with SBI for digital transactions

New Delhi: Bottling partner of Coca-Cola India, Hindustan Coca-Cola Beverages on Tuesday said it has joined hands with the State Bank of India to enable over 2.6 million retailers and 5,000 distributors conduct business transactions digitally. The bank will initiate the retailers in the digitisation process with its digital payment options like Buddy P2P, Buddy Merchant, App, SBI Pay. She said loans to the retailers would be given based on their actual turnover. Hindustan Coca-Cola Beverages Chairman and Chief Executive Officer, and Bottling Investments Group regional director for South Asia T Krishnakumar said, "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." He said the digital payment solutions in business transactions will help further strengthen the companys retail chain ecosystem covering over 2.6 million retailers and 5,000 distributors and will substantially reduce the dependence on cash. -Agency