Payment Solutions provider Innoviti today announced its foray into the APAC markets with the appointment of Rajesh Prasad, ex-Head of RuPay as Chief Business Officer – APAC business.
The new appointment is a key step in Innoviti’s strategy to expand the market footprint of its innovative payments automation and SME Lending platform solutions beyond the domestic Indian market, the company said in a statement.
Innoviti had raised a Series B funding of USD 18 million in July 2015 towards market expansion and product development, and the APAC expansion is a part of that plan.
Innoviti’s strategy for expansion in APAC will be focused on two key themes, a) distribution of credit to SMEs and consumers in APAC countries where retail credit penetration is low and b) use of technology to improve reliability of payment transactions in countries where the communication and payment infrastructure is under developed, the company said.
Prior to this, Prasad had handled key portfolios at National Payments Corporation of India (NPCI), including the development and implementation of RuPay Card Scheme, RuPay eCommerce solution and enablement of RuPay acceptance across Point of Sale terminals across the country, it said.