Media Coverage - Innoviti

Media Coverage

Innoviti and Visa tie-up to enable issuers to extend credit at PoS

-Published in ET BFSI

August 27, 2020

Innoviti and Visa tie-up to enable issuers to extend credit at PoS

-Published in ET BFSI

August 27, 2020

Visa, Innoviti to turn bills at PoS devices into loans

-Published in THE TIMES OF INDIA

August 27, 2020

NPCI, Its ‘NUE’ Competitor And The Push For Retail Payments

-Published in Bloomberg quint

August 20, 2020

Startups try to conserve cash, turn profitable as funding dries up

-Published in Livemint

July 14, 2020

Digital payments soar as Covid-19 fuels online transactions

-Published in ET tech

July 6, 2020

Kotak Mahindra Bank partners Innoviti for EMI on debit cards

-Published in THE TIMES OF INDIA

July 2, 2020

Kotak Mahindra Bank, Innoviti tie up to offer EMIs

-Published in BusinessLine

July 2, 2020

Digital payments bounce back to pre-Covid levels

-Published in Economic Times

June 30, 2020

Innoviti expands its ESOP pool to 30% of its employees

-Published in Moneycontrol

June 29, 2020

EXCLUSIVE: Innoviti raises undisclosed sum in funding from FMO,Bessemer Ventures


June 9, 2020

Unlock 1.0: Local stores show faster sales recovery than organised retail: Report


June 2, 2020

Our lessons from the Covid 19 crisis: Rajeev Agrawal, Founder & CEO, Innoviti Payment Solutions

-Express Computer

May 23, 2020

Innoviti enables UPI on delivery solution for small merchant

-The Times Of India

May 1, 2020

Under lockdown, India changes shopping habits

-Economic Times

April 14, 2020

Innoviti unveils its new ‘Exclusive’ range of Android POS terminals equipped with its new “Unbutton” user interface


Feb 27, 2020

HDFC & Innoviti offer one-stop UPI & Bharat-QR solution at retail POS terminals


Feb 17, 2020

Innoviti Launches UPI-Compliant B2B POS Solution In India


Feb 11, 2020

Zero MDR is in the right direction: Innoviti MD


Feb 6, 2020

How Innoviti Is Using ML To Develop Intelligent Payments Solutions

-Analytics India Magazine

Jan 17, 2020

How digital payments change the way we transact


Dec 4, 2019

How Is Machine Learning Used In Finance Sector?


Nov 29, 2019

Innoviti expands its ESOP pool to 30% of its employees

-Published in Moneycontrol

June 29, 2020

ML based technology improves user experience on POS machines


June 26, 2019

Innoviti says new ML-based tech is helping improve user experience of Google Pay payments


June 26, 2019

PoS players raise their game as biggies enter cards space

-Economic Times

June 13, 2019

Decision making made simpler with data analytics


May 29, 2019

Innoviti raises ₹80 crore from Trifecta, NBFCs in debt funding


March 15, 2019

Innoviti set to shake up SL payments space

-Daily FT

July 13, 2018

Click moment | All vision is strictly post facto, says Rajeev Agrawal


June 27, 2018

Innoviti Payments has Rs 20 crore to cash in on new PoS tech

-Economic Times

June 6, 2018

Innoviti appoints former Unilever executive, Neeraj Chandra, to advisory board

-Economic Times

January 9, 2018

Reliance Jio’s Praveen Boda joins Innoviti as Vice President

-Economic Times

Dec 22, 2017

Swiggy customers can now pay through Sodexo meal cards

Dec 18, 2017

RBI should ensure fair MDR share: ePayment companies

Dec 8, 2017

How declarative style of programming helps Innoviti process payment transactions in 2 second

Nov 13, 2017

Rajesh Prasad appointed Innoviti’s Chief Business Officer

-Business Standard

Oct 18, 2017

Ex-RuPay head Rajesh Prasad joins Innoviti as chief business officer for APAC operations


Oct 18, 2017

How Innoviti Is Capturing The Digital Payments Beast With $3 Bn Yearly Transactions In 700 Cities


Sep 19, 2017

India’s digital payments space presents a huge opportunity: Suramya Gupta


July 28, 2017

Digital Payments Startup Innoviti Raises $18 Mn From SBI-FMO Fund, Others


July 20, 2017

Innoviti Payment Solutions raises Rs120 crore from SBI-FMO, others


July 12, 2017

Payments must be like Google Maps, look for best routes in existing infrastructure: Innoviti


July 12, 2017

Sodexo adds Innoviti tie-up for digital switch

-Economic Times

June 28, 2017

India’s digital finance experiment gains traction as large players embrace UPI

-Forbes India

April 3, 2017

After BHIM app comes India’s first UPI payments facility in retail store – Meet the creator

-Your Story

March 31, 2017

You can pay via UPI by scanning QR codes

-Times Of India

March 31, 2017

UPI Comes To Point-Of-Sale Machines As NPCI Seeks To Increase Merchant Users


March 30, 2017

Credit card volumes up, but value of transactions drops

-Times Of India

Dec 19, 2016

Demonetisation: Credit card volumes up, but transactions drop

-Economic Times

Dec 16, 2016

Discretionary spending down, jewellery sales climb

-Business Standard

Dec 14, 2016

Payment Gateways like Citrus Pay, Innoviti buy into MSME segment

-Know Startup

Sep 11, 2016

Narayana Murthy's Catamaran invests in payment firm Innoviti Payment Solutions

-Economic Startup

Aug 10, 2015

Narayana Murthy’s Catamaran co-leads Rs 30 cr funding round in Innoviti

-Business Standard

Aug 10, 2015

Download Brochure

    Credit card EMI uses your credit card limit to convert your purchase into installments. Suppose you make a purchase for Rs. 9,000 on your credit card and while buying select the credit card EMI option with a tenure of 3 months, then the bank instantly converts your purchase to three installments of Rs. 3,000. In the next credit card cycle, instead of paying Rs. 9000, you will need to pay only Rs. 3,000, and continue paying this for 3 months. A nominal interest or processing fee may be charged depending upon the various schemes running at the merchant.

    If you don't own a credit card and would still prefer paying in instalments, you can use your Debit card to make select purchases on EMI.  Your debit card bank may have qualified you, you can check the bank on the same by sending the following SME message to your bank:


    HDFC (Min value is 5 K)

    SMS MYHDFC to 5676712 from your

    Bank registered mobile number, or

    To check your pre-approved eligible limit

    give a missed call to 9643 22 22 22


    AXIS (Min value is 5 K)

    SMS DCEMI<Space>XXXX (last 4 digits

    of your debit card number) to 5616100


    Federal (Min value is 5 K)

    DC<space>EMI to 5676762 / 9008915353

    or missed call to 7812900900


    Kotak (Min value is 8K)

    SMS CDL<space><last 4 digits of your

    Debit Card No> to 5676788


    ICICI (Min value is 5 K)

    SMS DCEMI<space><last 4 digits of

    Debit Card number> to 5676766


    While making the payment, notify the store executive to swipe your debit card transaction in the EMI mode and select a preferred tenure. The transaction will get approved on your bank as per your qualification and converted into EMI for the number of months selected during the transaction.

    Buy Now Pay Later (BNPL) is like using a credit card or getting a loan and repaying in EMI. The only difference being that it is for an ultra-short duration of 15 days to 60 days.

    Merchant will get the money the next working day from the bank.

    Interest costs depend from case to case. For example, in: Zero cost EMI - Customer doesn't pay the interest cost Bank EMI - Customer pays 12 to 15% interest cost depending upon the bank. Buy now pay later scheme (15 days) - Customer pays around 1.16% interest, again depending upon the banks. Buy now pay later (30 days,60 days and 90 days) - Customer pays 2.33%, again depending upon the banks.

    Processing fee is the amount charged by a credit/ debit card issuer to process your customers loan booking. For example, HDFC Bank charges Rs. 199 as processing fee for both CC and DC EMIs.

    IMEI validation is done by entering the IMEI number into the Innoviti terminal which then gets validated by the brand for an authentic product being sold.

    IMEI validation is done for Brand EMI transactions.

    The offers could be on any brand, product, bank card, being offered on any specific dates or any specific SKUs

    SKU promotions start with the cashier scanning SKU, IMEI/ Serial number from the billing POS and entering the amount in the billing POS and then transacting under the "Brand EMI" tender mode.

    As SKU comes directly from the billing POS via scan, it reduces the errors and manual effort of selection to re-enter/select again from the EDC.

    Joint promotions are offers provided to consumers in which two or more parties are bearing the cost of the offer. It is a highly efficient mechanism to reduce the cost of marketing. Small merchants can benefit by getting their name associated with large banks and brands.

    Innoviti has used payments technology in unconventional ways to bring merchants, banks, and brands together and enable them to run joint promotions for their common consumers.
    Innoviti’s uniPAY Next and GENIE products can run instant cashbacks, EMI, upgrade offers and others with two or more parties bearing the cost of it.

    The MDR, or Merchant Discount Rate, is a fee paid by the merchant to its bank for accepting payments card payments. This is typically calculated as a percentage of the transaction value undertaken through credit/ debit cards.

    Merchants can negotiate with banks for better MDR rates. With greater scale, merchants enjoy better negotiation power. You can also reduce MDR using Innoviti’s sophisticated multi-bank routing technology in uniPAY Next.

    Innoviti's uniPAYNEXT multi-bank routing technology automatically routes every card swipe to the bank that will charge the lowest MDR for it.

    Innoviti’s uniPAYNext technology uses an advanced #LookAhead technology to instantly scan the store and bank networks and identifies the best route from the store to the bank to improve transaction reliability. It optimizes speed, cost & reliability based on merchant pre-set rules to select the bank.

    Mismatches between a merchant's daily sales bank card settlements creates unnecessary manual reconciliation work. Innoviti's uniPAYNEXT technology digitally adds the approval code and approving bank name to the billing system enabling automatic reconciliation.

    The reports can be seen on SPARCS, uniPAYNEXT's reporting portal. This comprises of some very useful information like daily settlement receivables from each acquiring bank, store sales by different card issuers or regions or payment tender modes opening new possibilities for joint marketing programmes.

    UPI stands for Unified Payment Interface (UPI), a technology created by National Payments Corporation of India (NPCI). It allows transfer of money from one bank account to another instantly via one's mobile phone. Innoviti supports UPI payment via any UPI app such as Paytm, GPay, WhatsApp Pay, PhonePe through its terminals. To know more, click here.

    You need a Sodexo card issued by your employer. You can use your Sodexo card to pay for your food & grocery purchase on any Innoviti terminal in your F&G store. To know more, click here.

    Innoviti supports all Visa, Master, Rupay cards, UPI, Sodexo, other meal cards, EMI, Buy Now Pay Later Plans and loyalty point redemption through debit cards of banks supported by Loyalty Rewardz.

    How can I get my shop name added to Innoviti’s advertisements on Google?
    Once you sign-up with Innoviti and your GENIE app is installed, your name will automatically get added to the advertisements. It takes between 4 to 5 days for the name to start appearing.
    How can I get my shop name added to Innoviti’s advertisements in banks?
    Once you sign-up with Innoviti and your GENIE app is installed, your name will automatically get added to the advertisements. It takes between 4 to 5 days for the name to start appearing.
    How does GENIE coupon work? On which banks is it applicable?
    GENIE coupon is an instant discount offered by Innoviti to every consumer whose payment is done on Innoviti’s mobile app by the merchant. Customers need to enter their mobile number in the app, they will instantly receive an OTP through SMS/ WhatsApp, entry of this OTP applies the surprise instant discount on the purchase value immediately.
    Example: If your purchase value was Rs. 10,000, and the coupon value is Rs. 500, then your charge-slip will be approved for Rs. 9,500. You save instantly. The merchant gets the full money.
    It is applicable to credit/ debit card holders of 100+ banks in India.
    Does wallet work on refurbished products?
    Yes. GENIE’s EMI wallet can be used to provide zero-cost EMI on refurbished, second- hand and upgrade plans.
    How can I get access to customers qualified for credit by banks?
    Banks work with aggregators to provide access to these customers. Innoviti is a leading aggregator which can provide you with a terminal that will connect to the bank and provide you access to these cardholders.
    In addition, Innoviti in coordination with the bank will promote your store to all the bank’s customers who are pre-qualified.

    Brand EMIs are joint promotion schemes used by merchants, banks, and brands to incentivize a consumer to buy a higher end-product than what they can afford. The purchase is converted into EMI instantly by the bank, with the interest cost being borne by the product brand.

    Innoviti has partnered with 100+ brands including Apple, Samsung, Vivo, Oppo to extend 1000s of such schemes.

    You need to be pre-qualified by your credit, debit card bank to be eligible for Brand EMI. The bank will typically look at your credit card and savings account history to qualify you.

    Innoviti’s technology instantly checks with the bank if you are qualified to approve your Brand EMI transaction.

    Does wallet work on unbranded products?
    Yes. GENIE’s EMI wallet can be used to provide zero-cost EMI on any unbranded electronics product like headphones, power banks, speakers, etc.
    How does BEAM work?
    BEAM (Brand EMI Acceleration Mission) offer gives merchants the option to get sponsored by one of the leading mobile brands that they represent. Innoviti has tie-ups with brands like Samsung, Oppo, Vivo and Xiaomi. Using BEAM, merchants get 1% extra margins on the sponsored brands and 0.5% extra margins on the rest of the brands