Published on February 10th, 2021
To help mainline mobile dealers with more walk-ins, more conversions, and more profits.
Plans to launch across Karnataka and South India over next few weeks.
Mysuru, 10th Feb 2021: Leading provider of intelligent payment solutions, Innoviti Payment Solutions, today announced the launch of G.E.N.I.E, India’s first smart marketing platform for mainline mobile dealers at Mysuru. Keeping the interests of mobile dealer community who has been facing the onslaught of online – G.E.N.I.E is designed to bring online customers back to retail shops.
The Covid-19 pandemic has triggered a significant move from offline to online, affecting the businesses of mainline mobile and consumer durable dealers. With G.E.N.I.E, Innoviti aims to fuel growth for merchants by attracting more walk-ins for them, more conversions, and more profits.
G.E.N.I.E. addresses the flight of customers happening due to better offers online. By packing the power of G.E.N.I.E coupons, G.E.N.I.E EMI Wallet and G.E.N.I.E zero cost-EMI schemes, the solution provides more offers than online, on more products and more bank cards. Customers can avail instant rewards on all major bank cards using G.E.N.I.E coupons (more walk-ins), convert these walk-ins to paying customers with zero-cost EMI on branded, unbranded, and refurbished products with G.E.N.I.E EMI wallet (more conversions), and sell more to every customer with zero-cost EMI and instant cashback offers bundled through partnerships with banks and brands (more profits).
Ms. Amrita Malik, Co-founder and CBO-Partner Ecosystem said, “Mainline mobile dealers provide the touch, feel and trust to consumers when they are selecting their electronic products. They educate them, guide them. However, at the end they lose the consumer to Online just because there is a better deal available there. We are here to encourage and empower mainline mobile dealers in Mysuru to bring customers they lost to Online back to their stores. Innoviti is committed to rapidly scaling up this product across Karnataka and then across India. We believe our solution solves a real-world problem of mainline retailers in a conclusive manner and hope that this spirited initiative will further enhance the digital transaction ecosystem in our country.”
Innoviti converts payment transactions into business collaborations by using payments technology to bring together banks, brands, and merchants to a common platform, and enabling them to partner and deliver new and unique experiences to their common consumer at the point-of-sale. This smart marketing platform is providing a fair and equal opportunity for small and large businesses to collaborate and accelerate sales with unmatched efficiency.
Innoviti processes over US$ 6.5 Billion payments with double-digit payments market share in several organized retail categories. With more than 22% market share of payments in Fashion & Apparel category, 14% in Food & Grocery and 12% in Healthcare, Innoviti is bringing the power of collaboration to these merchants and helping them accelerate sales while saving money.
The company had turned EBITDA positive for the month of Sep 2020 and is on target to become PBT positive for the month of Dec 2020. Innoviti is backed by marquee investors including Bessemer Venture Partners, USA, SBI Venture Capital, Singapore and Catamaran, India.
About Innoviti Payment Solutions Pvt. Ltd:
Innoviti Payment Solutions Pvt. Ltd. has been a pioneer in the use of technology to add intelligence to payment transactions helping merchants, banks and brands utilize the full power of digital payments to drive business growth. The company processes over 6.5B$ of merchant payments from over 1,000+ cities with a volume throughput per installation that is 2X of the country’s average. Catamaran Ventures, SBI Capital, Bessemer Ventures and FMO 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 for its instant onboarding innovation, and Reliance’s Most Promising Growth Consumer Finance Award for its #KuchBhiOnEMI innovation in 2019. Innoviti is the only Indian payments SaaS company to be awarded the SOC3 seal of excellence for adherence to principles of trust in privacy, security, confidentiality, availability, and processing of transactions.
Sarath Chandra Nerella
Associate Vice President – Marketing Communications
Innoviti Payment Solutions Pvt. Ltd.