Published on December 9th, 2019

Move designed to deepen Innoviti’s solutioning for existing customers, while widening distribution to newer market segments. 

    • Leading payment solutions provider, Innoviti Payment Solutions announced the induction of former Future Group and Croma senior executive, Mr. Hemant Taware to its senior management team.
    • A retail industry veteran with over 25 years of diverse experience in Direct Sales, Marketing, and Operations across sectors like Food & Grocery, Apparel, CDIT & Telecom, Mr. Taware till recently was the Strategic Planning & Business Development Head at Future Group where he has been instrumental in orchestrating Change Management in their Design & Build function.
    • Prior to that Mr. Taware handled leadership roles at some of India’s marquee retail organizations such as Chief Operating Officer at HyperCITY Retail, Chief of Operations at Croma, Chief Operating Officer at The Mobile Store and General Manager at ABRL.
    • Mr. Taware’s appointment reaffirms Innoviti’s goal of building a world-class payments company by bringing senior talent from user industries to strengthen its expanding eco-system of payments linked value added services for retail merchants.
    • Across India Innoviti processes over US$ 5Bn of payments annually from over 1,000+ cities, with a throughput per point of acceptance of US$7000, 2X of India’s average (as per RBI data). Innoviti’s payment solutions helps merchants, banks and brands influence commercial transactions happening in offline commerce more efficiently than possible otherwise, through an unconventional use of payment terminals.
    • Innoviti is backed by marquee investors including Bessemer Venture Partners, USA, FMO, Netherlands, SBI Venture Capital, Singapore and Catamaran, India.

Mr. Hemant Taware, Chief Business Officer – Merchant Ecosystem, Innoviti said “I’m very excited to be joining Innoviti’s team at a crucial time when the company is poised to aggressively grow its pioneering industry-leading software solutions in the digital payments space. Innoviti’s technologies have been at the forefront of setting new benchmarks for how retail businesses can extract more out of a payment transaction by adding intelligence to it. This is helping retail businesses transform their payment acceptance processing infrastructure into genuine drivers of business growth in today’s tough economic environment. I look forward to an exciting journey with Innoviti’s young and talented team.

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. 35,000 Cr. of payment transactions, about 5% 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-FMO fund and Bessemer Venture Partners.
For more information, please visit – www.innoviti.com.

Media Contact:
Sarath Chandra Nerella
Senior Manager – Manager
sarath@innoviti.com
Innoviti Payment Solutions Pvt. Ltd.