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Innoviti introduces self-healing tech backed by provision of dual-SIM cards

InnovitiInnoviti, a payment solutions provider based in Bengaluru, announced the extension of its self-healing technology backed by the provision of dual-SIM cards in a phased manner across its pan-India base of retail POS terminals. The new technology is designed to de-risk processing of payment transactions made at the terminals deployed on retail cash counters, from their dependence on reliability of locally available GPRS and 4G networks.

Shivendra Meena, Vice President – Retail Technology, Innoviti stated, “Consistent technological innovation to ultimately eliminate root causes of any transaction failures is an obsession at Innoviti. We are extremely proud of the fact that the reliability metrics for Innoviti POS terminals are widely recognised as best-in-class by the retail industry. The new self-healing technology with dual SIM backup will further strengthen our innovation edge in this crucial domain.”

The technology works at the software and hardware levels in minimising transaction failures. At the hardware level, the POS terminals are equipped with two SIM cards which are used to provide SIMs of two different operators. At the software level, if a transaction detects problems with primary SIM connectivity, the self-healing technology kicks in and auto-switches to the other SIM immediately, without need for the transaction to be re-initiated. In pilots carried out over a period of 3 weeks in tough network environments, Innoviti saw a 30 percent reduction in transaction failure rates.

Innoviti runs a payment platform that can add intelligence to traditional payment channels, thereby enhancing their value. The company is backed by investors such as Bessemer Venture Partners, USA, SBI Venture Capital, Singapore and Catamaran, India.

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