Retailers Ride High On Easy EMI

A recent payment innovation driving retail sales is Merchant Credit Card EMI ,  This solution provides consumers an option to convert a credit card purchase to EMI at the time of making the purchase, prior to the card being swiped, with no cumbersome paperwork being required.  This can help trigger consumer conversion in the store while allowing the retailer and the manufacturer to maintain margins. The purchase amount gets converted to EMI and gets charged to the consumer on their credit card over the EMI tenure.

Typically EMI is provided as stand-alone option by each bank, Innoviti's  multi-bank EMI architecture allows retailers to efficiently provide EMI options from multiple issuers through a common technology interface.  This technology is now being used by leading retailers.

BSE Adopts Innoviti's uniPAY

Bombay Stock Exchange (BSE), India's oldest and premier stock exchange has adopted Innoviti's uniPAY platform for managing its Internet payment gateway and netbanking facilities.

uniPAY In Use

Innoviti's uniPAY is the preferred solution for leading retailers in India for managing their electronic payment transactions with consumers. Through uniPAY, Innoviti provides a complete suite of payment services through multiple channels such as at the POS, on the Internet and in the field.  uniPAY today processes over 15 million transactions annually worth Rs 1500 Crores across 3900 retail locations in India.

News In Brief

"We chose uniPAY for Meru"

"Credit/debit card acceptance technology in cabs is a complex proposition and we wanted to partner with someone who had the commitment and quality to make it a successful program. The next challenge is to get sustained service recovery for any issues we face. We had the choice of several partners, but we chose Innoviti and are very happy to have made the right choice", said Gavin D'abreo, Executive Vice President - Sales, Marketing & Operations, Meru Cabs.

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