Innoviti introduces Cloud Payment Reconciliation technology to provide single integrated view of wireless instore payments
11 March 2020
Bengaluru, March 11th, 2020: Leading payment solutions provider, Innoviti Payment Solutions, announced that after successful pilots, it will now start extending its newly introduced cloud-based reconciliation technology to full-service restaurants, that require payments to be collected at a customer’s table with automatic reconciliation with the bill.
For modern retail outlets, tight front-end integration between the store billing system and all payment acceptance POS terminals in the store, is crucial to ensure ease of back-end reconciliation between overall store billing done and corresponding payments received. In typical retail checkout scenario, this billing-payments integration is often powered via a wired USB connection between the store billing server and the POS terminal usually kept adjacent to it. This need for POS terminal to be on same counter as billing server restricts the potential portability of the POS terminal. This may not be a huge concern for retail formats where customers queue up to make payment at stationary billing counters. However, in use case like full-service restaurants, the POS terminal needs to accept payments at the table.
Innoviti is backed by marquee investors including Bessemer Venture Partners, USA, SBI Venture Capital, Singapore and Catamaran, India.
About Innoviti Payment Solutions Pvt. Ltd:
For more information, please visit – https://www.innoviti.com