Sodexo and Innoviti partner to enable Meal Card acceptance in F&B Outlets
10 July 2017
- Over 3 million Sodexo consumers in India can now use their Meal Card to pay at grocery stores, restaurants, cafes and other food-related retail outlets using Innoviti’s UniPay Next Payment Solution
- New module developed by Innoviti allows merchants to activate Meal Card acceptance on their 50,000+ existing card acceptance POS terminals
- Move expected to increase speed of footprint expansion for Sodexo Meal Card usage as merchants do not need to make new hardware investments to start Sodexo acceptance
- Sodexo, the leader in employee motivation & benefit services, announced its partnership with Bangalore-based leading payments solutions provider, Innoviti, to enable acceptance of the Sodexo Meal Card at POS terminals using Innoviti’s UniPay Next Payment Solution. Currently Innoviti has an installed base of over 50,000+ such retail POS terminals across 700+ cities. Over 3 million Sodexo consumers in India can benefit from this move as they can now use their Meal Card to make payments at grocery stores, restaurants, cafes and other food-related outlets.
- The new Meal Card acceptance module designed by Innoviti allows the merchant to activate Sodexo Card acceptance on his existing UniPay Next credit/debit card accepting POS terminal. In Integrated mode, the module also enables easy back-end reconciliation of merchants billing system with his payment acceptance via Meal Cards. Additionally, the merchant also benefits from supporting analysis tools to monitor and track usage of Meal Cards amongst various other payment modes that he accepts. Since no new hardware investment is required to activate Sodexo Card acceptance, the move is likely to drive increased acceptance amongst retail merchants in the food and groceries space.
- Says Mr. Rajeev Agrawal, Managing Director & Chief Executive Officer of Innoviti, “We are excited to partner with Sodexo for this initiative which will benefit both Sodexo Card holders as well as the retail merchants using our UniPay next platform. Our merchant partners will be able to fully leverage their UniPay Next POS terminals to boost sales by offering their customers the widest possible payment flexibility while Sodexo Card holders will enjoy the benefits of many more usage points”
- Stephane Michelin, CEO, Sodexo BRS India said, “Sodexo is the only company to enable POS-level integration with major retail chains to ensure 100% compliance of the meal benefit solution and this integration with Innoviti makes it simple for the transaction to flow directly from the POS to the EDC machine for the purchase of food & non-alcoholic beverages. While our network already covers 1000+ cities, this integration as this enables us to expand the acceptance network of the Sodexo meal card across large retail chains, nationally.”
Mumbai, 28th June, 2017
About Sodexo Benefits & Rewards Services India
The Sodexo group works towards improving the quality of daily life for clients, consumers & merchants across the world. Sodexo BRS, India’s No.1 Employee Motivation & Benefits Services provider is a partner to over 11,000 HR Leaders. Our Employee Benefit Solutions are customized to meet specific needs of organizations and help them develop their best-motivated workforce.
Sodexo BRS offers a range of employee benefit solutions, which include Meal Pass and Premium Pass. Sodexo reaches out to over 3 million beneficiaries across 1,500+ cities servicing through over 30,000 Merchants.
About Innoviti Payment Solutions Pvt. Ltd., Bangalore, India.
Innoviti Payment Solutions runs a payment platform that has a unique ability to add intelligence to traditional payment channels, enhancing their value. Merchants, brands and financial service providers use these intelligent payment channels to reduce cost and drive sales of their products. Innoviti processes over Rs. 40,000 Cr. of payment transactions, about 6% of all offline merchant payment transactions in India. This also includes Rs. 1.500 Cr. of transactions involving distribution of loans to consumers and small businesses. The most capital efficient company in this space, Innoviti processes more volume for every $ raised than any other payments company. The company is backed by marquee investors such as Catamaran Ventures, SBI Venture Capital and Bessemer Venture Partners.
For more information, please visit – https://innoviti.com/
Sarath Chandra Nerella
Associate Vice President – Marketing Communications
Innoviti Payment Solutions Pvt. Ltd.