India-based Innoviti Payment Solutions has unveiled the Saadhan POS solution, which enables B2B businesses to accept RuPay debit card and UPI-QR transactions.
Saadhan is a pre-packaged solution, featuring back-end transaction acquiring arrangements with acquiring banks.
Go deeper with GlobalData
As a result, businesses can activate the solution is as early as 15 minutes.
Complementing the solution is a Tracking App to enable the businesses to track their RuPay and UPI transaction processing and settlement in real time.
The businesses can choose to process payments through the regular route or as EMI billing transactions.
Businesses using Saadhan do not have to pay any fee for their RuPay debit card and UPI payments.
Innoviti chief business officer Amrita Malik said: “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.
“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.”
Currently, Innoviti processes more than $6.5bn in payments on a yearly basis from over 1,000 Indian cities.
Last year, the firm secured $11.5m in debt funding. The financing round was led by Trifecta Capital.
