• Innoviti Technologies Pvt. Ltd., India’s largest payments-centric retail SaaS platform for enterprise brands and their SME channel partners, have today announced the launch of India’s first AI-driven UPI Acquirer Backup Application for offline organized retailers. This application automatically activates a secondary UPI acquirer for UPI Dynamic QR transactions if the primary acquirer becomes unreliable. This breakthrough not only enhances transaction reliability and customer experience but also helps retailers save up to 6% on digital payment processing costs.

• Organized retailers have saved heavily on MDR costs with the mass adoption of UPI by consumers. However, credit cards, a high MDR cost payment instrument, remains as the preferred mode for high ticket purchases leading to blended MDR costs of up to 60 bps. This worsens when an UPI acquirer fluctuates or fails. Problems begin at the checkout counter as customers irritated by delays switch to credit cards. Some payment providers offer a manual workaround – store staff can press a button on the EDC to switch acquirers after a failure, but by then it is too late. The irate customer would have already handed over a credit card and the staff would have quickly swiped it to avoid losing a sale. The result - zero-cost UPI transaction would have turned into a high MDR credit card payment, eroding the retailer’s margins without any increase in revenue. A poor checkout experience adding to the retailer’s woes.

• UPI Dynamic QR transactions being a push system does not render itself to conventional payment orchestration. As a result, till now there was no intelligent router to manage acquirer failures. Innoviti’s UPI Acquirer Backup Application solves this challenge using AI unsupervised learning, that models the behavior of each UPI acquirer system based on past data and then monitors live traffic to automatically switch to an alternative acquirer before the failure occurs. The application allows merchants to set preferences and routing rules for their favored acquirers. Innoviti has already rolled out this application with some of India’s largest retailers, helping them cut MDR costs by up to 6%. The consumer experience is also enhanced with fewer failures and lesser checkout time. The new application also ensures that the switching does not affect the reconciliation in any way.

• The company’s flagship product “innoviti unipay” is a payment reconciliation software. It powers payments at India’s largest retailers and is profitable with an EBITDA of 25%+. Innoviti genie is a sales acceleration software designed for electronics merchants with high agency, helping them compete better by giving access to not only distributor cash discounts and OEM dealer margins but also a whole set of sales management tools. Innoviti genie doubled its revenue in FY24-25 and is slated to breakeven at an operating level in FY26. In December 2024, Innoviti launched its payment collection app “innoviti link” for neighborhood merchants to help them expand their selling universe to remote customers without the anxiety of collections. This was developed under Innoviti’s online PA license received from RBI. The app has shown a rapid adoption as is the highest ranked payment link apps in both the App Store and Play Store. It is targeted to cover 30,000 merchants by March 2026.

• The company is operating at an annualized run-rate of Rs. 150 Cr. and is targeting a full year of operating profitability in FY26, setting the stage for a proposed IPO by Mar 2026.

Quotes:

“Both consumers and merchants prefer to pay through UPI given its ease and commercial advantage. However, acquirer failures are an unavoidable aspect of any payment technology,” said Ms. Amrita Malik, Co-founder & President, Innoviti.

“We are excited to introduce AI in this space, enabling the systems to dynamically monitor real-time traffic and automatically re-route UPI transactions through alternate performing acquirers. This breakthrough can help merchants reduce their digital payment processing costs by up to 6%, while significantly enhancing the customer checkout experience.”

About Innoviti Technologies Pvt. Ltd., Bangalore, India.

https://www.innoviti.com

Innoviti provides payments-centric retail SaaS software to enterprise brands and their SME channel partners, giving them a competitive edge to help them grow faster, smarter, and with less efforts than possible with traditional payment solutions. Innoviti’s software run across online and offline payment channels, processing over ₹80,000 Cr. annually across 2,000 cities, serving over 6,000 merchants online and 20,000 merchants offline. The company processes more than 50% of all purchases happening in enterprise retailers in the food & grocery, lifestyle, and healthcare categories. Backed by marquee investors such as Bessemer Venture Partners, USA, FMO, Netherlands, Catamaran Ventures (Mr. Narayana Murthy’s family office), India, and the Patni Family Office, India, Innoviti is the recipient of RBI’s final authorization to operate as an online payment aggregator. The company has several accolades to its name including the 50 fastest growing companies in Asia award from Deloitte (won four times), Reliance Innovation Award, and the Mastercard Innovation Award. Innoviti’s technology edge is visible through the 11 patents awarded, with 16 more in pipeline.