A move designed to expand Innovati’s footprint in electronics retail merchants through distribution.
Bengaluru India, 3 November 2020 / PRNewswire / –
- Innoviti, A leading provider of intelligent payment solutions, announced the inclusion of former Eureka Forbes retail head as chief revenue officer – Channel sales.
- An alumnus of dun International university, M. Upritt is a retail industry veteran with 20+ years of diverse experience in leader positions with brands such as Philips, Onida in general, organic and e-commerce channel sales, business development and consumer durables space.
- Mr. Upritt will lead to Innovati’s expansion into the electronics retail merchant category using distribution channels. Bringing in senior talents such as Mr. Upprit confirms Abhinav’s commitment to strengthen and accelerate its category specific retail plans through a specialized delivery model.
- Innovation converts payment transactions into business transactions using payment technology to bring banks, brands, and merchants together on a shared platform, and to provide new and unique experiences to their general consumer in point-of-sale. Enables and distributes. This smart marketing platform is offering small and large businesses a fair and equal opportunity to accelerate and collaborate with unmatched efficiency.
- In the electronics category, Innovati has introduced its total product over the past few months through a nuanced delivery approach, untapped with a large affordability. The adoption of the product has grown rapidly in the last six months which has become a self-sufficient product line.
- Over the Miracle six months, with Mr. UP’s hiring, the company will focus on the rapid expansion of this product line, not only through the launch of exceptionally designed products across store-retail, online and QR channels for the category. But also through the rapid expansion of distribution at the national level. Across the payment channel, Innovati has a 5.14% market share in the electronics category and aims to take it to 25% within the Miracle 12 months.
- End of innovation process US $ 6.5 billion Payments with double-digit payment market share in many organized retail categories. With over 22% market share in the fashion and apparel category, 14% in food and grocery, and 12% in healthcare, innovation is bringing the power of collaboration to these merchants and accelerating sales while saving money Is helping
- The company had made EBITDA positive for the month Soldier 2020 And is on target to become positive for the month of PBT December 2020.
“Joining Innovati, a company with an ambitious vision, aggressive growth plans and a clear strategy at a time, is exciting when the company is growing rapidly. Innovation is already the leading payment provider in many retail categories India. I am glad that part of this journey happened at a time when the company’s highly differentiated products are being offered with the support of an emerging channel ecosystem across the length and breadth of this country. Innovation technologies have been at the forefront of setting new benchmarks on how retail businesses can quickly and cost-effectively leverage their payment acceptance processing infrastructure into real drivers of business growth. I look forward to an exciting journey with Innovati’s young and talented team Mr. Manoj Uprit, Chief Revenue Officer, Innovati.
“We are excited for an experienced business leader like Manoj to pursue our retail and channel strategy. His deep experience in building and nurturing distribution channels will be an asset as Innovate looks to strengthen its leadership position in the field of payment solutions, ” Ms. Amrita Malik, Chief Business Officer, Innovati.
About Innovations Payment Solutions Pvt. Ltd., Bangalore, India.
Innovative Payment Solutions Pvt. Ltd. has been a leader in the use of technology to add intelligence to payment transactions for merchants, with banks and brands harnessing the full power of digital payments to drive business growth. Company processes US $ 6.5 billion Merchant pay per installation volume from more than 1000 cities is 2X the country average with volume. Catamaran Ventures, SBI Capital, Bessemer Ventures and FMO are investors in the company. The company has several patents filed with two honorees. Innovation is the winner of MasterCard’s Innovation Wizard Award for Instant Onboarding Innovation and Reliance’s Most Promising Growth Consumer Miracle Award for #KuchBhiOnEMI Innovation in 2019. It is the only Indian payments SaaS company to be awarded the SOC3 Seal of Excellence for Innovation. Principles of trust in transaction confidentiality, security, confidentiality, availability and processing.
Sarath Chandra Narela
Associate Vice President – Marketing Communications
Innovative Payment Solutions Pvt. Limited
E-mail: [email protected]
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