The fintech Farmapay seeks to optimize and simplify transactions within the pharmaceutical sector.
The fintech universe constantly presents new developments, solutions and products. In this framework, there is also evidence of a greater search to limit the specific market niche to precisely cover the needs of a particular sector, with this premise being born farmapay, the first B2B fintech created specifically by and for the pharmaceutical industry, which integrates the entire value chain (laboratories, distributors, drugstores and pharmacies) into a single collections and payments platform.
“With this development we seek to enhance synergy throughout the value chain and turn problems into opportunities. As a fundamental strategy we seek to put pharmacies at the center of the scene. In general terms, we are a collection platform created for pharmacies in Argentina that seeks to streamline transactions in the sector, offering a safe, fast and effective collection experience that responds to the needs of pharmacies.“, he detailed in dialogue with Ámbito Sergio Chiossone, CEO of farmapay.
The peculiarity of the platform is that it not only centralizes and facilitates collection by pharmacies but also allows them to manage their income, investments, payments to suppliers and other industry-specific management.
At the moment, In Argentina there are around 14,000 pharmacies with a transactional business volume of around US$7,000 million. and this is how Chiossone explains it: “taking into account the scale of the business, from this synergy very interesting business opportunities can arise for all the actors in the chain that will make both pharmacies and distributors, drugstores and laboratories grow.. The objective is that there is no friction within the chain and generate a virtuous circle. Having integrated the entire chain and having the support of the laboratories, we project that the 14,000 pharmacies that operate in the country will be part of this new platform”.
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Among the tools offered by this new platform, they stand out: Pharmacies will be able to manage collections and payments from a single place, since it allows you to charge with any card or digital method and all payments are credited directly to an exclusive CVU account of the pharmacy, allowing you to manage payments to suppliers, withdraw money and make transfers to third parties without limits or additional costs.
On the other hand, it also enables generate profitability directly from the platform, investing the available account balance and maximizing profits. In this framework, allows you to monitor all money movements, generate sales reports and perform automatic reconciliations to save administrative time. In addition, it includes a calendar of balances and accreditations, helping pharmacies to better plan their finances.
Source: Ambito
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