Innoviti targets B2B business with POS solution
Innoviti, an India-based payments company, has launched Saadhan POS. The solution provides an option to become compliant with the recently announced regulatory requirements that mandate compulsory provision of Unified Payments Interface (UPI) and RuPay acceptance modes at all businesses with annual turnover exceeding Rs. 50cr.
Saadhan POS comes pre-enabled to accept both RuPay Debit Cards as well as UPI-QR transactions, enabling B2B businesses to accept payments from their business customers through any of these options. All Rupay debit card and UPI transactions on Saadhan POS will have zero charges. The POS will additionally accept Visa and Mastercard issued credit and debit cards. The ability to accept all forms of payment on a single unified POS device is meant to simplify the back-end reconciliation of payments.
The solution is pre-packaged with all necessary back-end transaction acquiring arrangements with acquiring banks, which means it can be activated for the merchant within 15 minutes, according to the vendor.
Saadhan POS is complemented by a mobile phone-based tracking app that allows the merchant to track the transaction processing and settlement on a real-time basis across both Rupay and UPI transactions. Merchants can process transactions through either the regular route or as EMI billing transactions.
“The recent regulatory changes making UPI and RuPay debit acceptance mandatory for specified businesses has created a need amongst our partners for a simple one-stop solution that can be enabled quickly to meet regulatory deadlines” said Amrita Malik, Chief Business Officer at Innoviti. “The new Saadhan POS is carefully designed to meet those expectations, and we are delighted with the response it is getting from our retailer partners”.