Citibank, NA automates M&J Group’s payment solutions

Citibank NA Bangladesh is said to have enabled automatic domestic payment solutions for M&J Group.

With business models becoming more complex and international buyers seeking more efficiencies in supplier's core operational process, M&J Group decided to integrate their "Enterprise Resource Planning" system with Citi, says a statement.

The online banking platform is said to ensure faster and more secured payments for the group's business. This includes secure electronic data transfers, exchange of information in preferred file formats, network protocols and security standards.

Nearly doing away with cheque and cash usage at almost all levels, the M&J Group is said to be currently paying it whole workforce through mobile wallets.

A majority of its stakeholders are said to be receiving payments through Bangladesh Electronic Funds Transfer Network, Real-Time Gross Settlement and National Payment Switch Bangladesh.