Reaffirms both organizations commitment to help SMB ecosystem bounce-back from the hardships brought by the pandemic
- vivo, the leading innovative global smartphone brand and Innoviti Payment Solutions, India’s largest provider of payment solutions to offline enterprise merchants, announced today that vivo will be partnering with Innoviti on BEAM (Brand EMI Acceleration Mission). BEAM is a unique mission to help SMB mobile dealers earn extra margins on sale of branded products on zero-cost EMI using G.E.N.I.E, Innoviti’s smart marketing platform. With this partnership, these margins can now be earned by SMBs on every vivo branded product also.
- The lockdown of offline stores due to the COVID-19 pandemic has affected SMB businesses more than others. Sustained lockdown has led to consumers shifting to online purchases, accelerating the SMB mobile business decline. G.E.N.I.E, launched earlier this year by Innoviti, has been empowering SMB mobile dealers to pull back customers with the help of attractive cashbacks on 110+ banks, zero-cost EMIs schemes on 60+ branded and unbranded products, and BEAM, a tool to earn extra margins on sale of branded products.
- BEAM enables mainline mobile dealers to get sponsored by leading mobile brands on Innoviti’s G.E.N.I.E Smart Marketing App. Under this partnership, the dealer who gets sponsored by vivo can earn an extra 1% margin on every vivo branded product they sell on EMI on G.E.N.I.E. This not only helps dealers earn extra margins, it also builds a stronger relationship between the dealer and the brand. BEAM also enables the dealers to earn an extra 0.5% margin on other mobile brands sold on zero-cost EMI.
- Innoviti uses payment technology in unconventional ways to turn payment transactions into customer acquisition and retention tools for merchants, bank, and brands. Innoviti’s products bring these parties on to a common platform and helps them deliver unique customer experiences, such as this one. Each business gets access to 3X loyal consumers at 1/3rd the cost, accelerating sales with unmatched efficiencies.
- Innoviti had raised a Series C in 2020 to further its differentiated strategy of servicing the retail market through category and segment specific products.
Quotes:
“Mainline mobile dealers provide the touch, feel and trust to consumers when they are selecting their electronic products. They educate them, guide them. However, the pandemic has affected them more than enterprise merchants and online.
Since its launch, GENIE has been empowering mainline mobile dealers to successfully win back the customers they lost to these channels through attractive features. We are excited about welcoming vivo to our BEAM program. vivo is a leading brand sold by SMBs, extra margins on every vivo branded product will help these SMBs earn more to grow more. We hope this will provide the fuel the SMBs need to bounce-back and thrive in their businesses.” – said Mr. Prasad Sonavane, Chief Revenue Office – Partnerships & Alliances.
“Ever since we began our journey in the Indian market, mainline retail has been our top priority. We believe that mainline retailers are partners in our collective progress, and we have always protected their business interests.
The Brand EMI Acceleration Mission (BEAM)is a great feature that will enable mobile retailers to earn extra margins thus having a positive impact on their business.”- said vivo mobiles India pvt ltd.
About Innoviti Technologies Pvt. Ltd., Bengaluru, India.
https://innoviti.com/
Innoviti Technologies Pvt. Ltd. is India’s largest provider of payment solutions to Enterprise merchants with a 76% market share of all payments happening in this segment. It has been a pioneer in using technology to help businesses extract better value from retail transactions than anyone else. The company processes over 10B$ of merchant payments from over 1000+ cities with a volume throughput per installation that is 2X of the country’s average. Bessemer Venture Partners, USA, FMO, Netherlands and Catamaran Ventures, India are investors in the company. The company has several patents filed for with two awarded. 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. Innoviti is the only Indian payments SaaS company to be awarded the coveted SOC3 seal of excellence for adherence to principles of trust in privacy, security, confidentiality, availability, and processing of transactions.
About vivo
https://www.vivo.com/in
vivo, a premium global smartphone brand, entered India in late 2014, vivo has established itself as one of the top smartphone brands in India. Manufacturing in Greater Noida, the company has a robust distribution network across the country both online and mainline, catering the best in class quality services to approximately 550 cities, in 27 states and 5 union territories backed by more than 600 service centers in India. The organization is dedicated to the pursuit of perfection and is continuously creating surprises for users through constant innovation. Through smartphones, vivo offers users a professional-grade photography solution, taking mobile photography to the level of an art form, witnessing, and recording all of life’s beautiful moments.