Innoviti Technologies Becomes India’s First SaaS Platform to Enable Offline Credit Card Transactions on UPI

Aligning to RBI’s initiative to drive credit growth on UPI, Innoviti Technologies (formerly, Innoviti Payment Solutions), India’s largest collaborative commerce platform, has enabled credit card transactions on Unified Payments Interface (UPI), making it India’s first SaaS omnichannel platform to power credit transactions for offline and online UPI payments.


In an industry first move, bringing benefits to both customers and merchants, Innoviti has enabled this feature to benefit all end users. Credit card on UPI will now aid customers claim all the benefits of buying on credit including ease of pay later to fulfil all their aspirational purchases as well as earn the added advantage of reward points making their buying experience truly outstanding. Merchants benefit from increase in consumer consumption and consumer retention as they can facilitate them with credit options while allowing the popular and secure UPI payment options. Innoviti helps bridge all these gaps by ensuring merchants, brands and customers can all leverage this golden opportunity


The credit card spends have grown massively by 30% in the last 3 years. However, India’s credit card penetration is at 6%, limited to just 6-7 million merchants. The move from India’s apex bank to allow credit-cards via UPI is estimated to benefit over 20 million merchants. With India rapidly adopting to digital payments, Innoviti, which operates on innovation first approach is ready to make these payments truly digitally seamless


UPI has now become the new norm in digital payments. In December 2022, the number of UPI transactions reached a record of 782 Crores worth ₹12.8 Lakh Crores. Enabling credit transactions on UPI will not only accelerate the growth of these transaction but also further strengthen the public digital platform of India, that stands as the critical growth highway.


Amrita Malik, Co-Founder and CBO New Business Initiatives, Innoviti, said, “Technology partnership for us means thinking ahead on behalf of our customers and forecasting the new trends that will govern the commerce space in coming times. Commerce solutions built on UPI are the future for India and RBI’s move to enable Credit Card (CC) on UPI opens a world of possibilities for merchants and consumers. At Innoviti, we believe in staying ahead of the curve through constant innovation to adapt to changes quickly without causing business disruption. Therefore, preempting these changes, Innoviti has become the first to enable credit on UPI in its omnichannel platform for both online and offline merchants “


About Innoviti Technologies Pvt. Ltd., Bengaluru, India.

Innoviti Technologies (formerly, Innoviti Payment Solutions) is India’s largest provider of collaborative commerce solutions to Enterprise merchants with a 76% market share of all purchases being paid for digitally in this segment. Innoviti’s vision is to help people make better purchase decisions by providing better purchase options. The company processes over 10B$ of purchases from over 2000+ cities with a volume throughput per installation that is 2X of the country’s average. Bessemer Venture Partners, USA, FMO, Netherlands, Panthera Growth Partners, Singapore, Alumni Ventures, USA, Catamaran Ventures, and Patni Advisors are investors in the company. The company has 6 patents awarded with 21 more filed. Innoviti is the winner of Mastercard’s Innovation Wizards Award, Reliance’s Most Promising Growth Consumer Finance Award and Deloitte Fastest Growing Companies in Asia award in 2020.