Leading provider of smart payment solutions, Innoviti Payment Solutions stated that by using its low code application platforms (LCAP), the company has built operational efficiencies to reduce the time to market of new products and features. Using the applications built through low code technologies, Innoviti empowers its retail merchant partners to get an x-ray view into their payment operations being managed by Innoviti, get more store walk-ins, and extend customized consumer offers to them.Pioneering vision, coupled with technical innovation, is at the heart of everything Innoviti does. The company has swiftly ramped up its technology to be able to onboard 100,000 local mobile dealers in the next 3 months to capture more than 50% market share of this space which is struggling with the lack of quality sales growth tools.Using low code application platforms (LCAP), Innoviti strips away the complexities of working with the most advanced automation technologies and makes our focus on merchant’s need for business growth razor sharp.
The company builds and customizes apps, partner offer integrations 10x faster, and rolls out new features required by merchants quickly to help them with better customer acquisition opportunities and enable them to stay competitive in the market. Our apps developed through low code application platforms (LCAP) are flexible enough to insert anything at any level as per evolving customer needs taking away the development time.Innoviti’s onboarding app built by using low code application platforms (LCAP) for onboarding new merchants, eliminates wait time, and gets a new merchant transacting digitally on our terminals within 30 minutes, the fastest in the industry. Similarly, it uses low code technology for instant integration of new offers from bank and brand partners, shares real-time analytics and insights from their payments data to help merchants plan their business effectively. Not only this, Innoviti’s low code application platforms (LCAP) also help to easily integrate front-end merchant apps with backend systems that help merchants instantly update their profile information, raise service tickets raised through calls, emails, or WhatsApp channels, etc.Innoviti uses payment technology in unconventional ways to turn payment transactions into customer acquisition and retention tools for merchants, bank, and brands, by bringing them on to a common platform, and helping 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:
“What excites us about ‘code less, do more’ tech philosophy of Innoviti is that it provides the core underlying building blocks that can be extended and enhanced at speed to accommodate a dynamic and changing rule set. Using Innoviti’s low code application platforms (LCAP), we build high-performance applications with low latency and responsive workflows to the benefit of merchants who require real-time analytics and insights to grow their businesses while delivering mission critical integrations to enable sales and brand promotions to help merchants sell more.” – said Mr. Amit Ahuja, Senior Vice President – Data Technology, Innoviti. The apps developed through Innoviti’s low code application platforms (LCAP) democratize the access to technology enabling even the smallest merchants become incredibly productive. For the first time they do not have to spend time on deriving business insights from their payments data manually. They can instead focus on growing their businesses using real-time insights shared by Innoviti’s apps,” – said Mr. Ankur Shukla, Senior Vice President – Marketing, Innoviti.
About Innoviti Payment Solutions
Innoviti Payment Solutions Pvt. Ltd. has been a pioneer using payment technology to help businesses extract better value from retail transactions than possible otherwise. 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 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 SOC3 seal of excellence for adherence to principles of trust in privacy, security, confidentiality, availability, and processing of transactions.