ML based technology improves user experience on POS machines

Innoviti uses ML-based Path Predictor technology to dramatically improve CX of Google Pay payments on POS terminals at physical stores.

Innoviti Payment Solutions has announced a significant upswing in the volume contribution of the fast-growing UPI payment platform to its overall payment transaction processing in offline retail stores after the introduction of ML-based Path Predictor technology.  Path Predictor, patented technology of Innoviti, uses Machine Learning to decipher patterns lying deep within millions of transactions passing through Innoviti to create models that dynamically and in real-time select the best path for a UPI transaction, leading to a dramatic change in UPI success rates and seamless consumer experience. Since the introduction of this technology, over the recent 3 months of Q2 2019, UPI@POS transactions at Innoviti have grown to contribute nearly 2% of Innoviti’s overall transaction processing volume.

This technology was also used by Innoviti to enable Google Pay across its stores and the combination of UPI through Google Pay and Path Predictor has led to volumes climbing to nearly 10% for several stores.  The convenience from this seamless experience is visible with a nearly 21% repeat monthly usage of Google Pay by consumers for their daily purchases in such stores. 

In offline retail, where card acceptance through POS is a must, the checkout experience using UPI was less than optimal due to high transaction failure rates.  With the addition of Path Predictor, Innoviti has crossed this hurdle and looks forward to a multi-fold surge in Google Pay and other UPI-based payment formats in the coming months.

Mr. Rajeev Agrawal, Managing Director & Chief Executive Officer of Innoviti said, “With a rapid increase in payment transactions and increase in the number of payment types, conventional technology approaches are unable to deliver desired consumer experience. Innoviti has been investing deeply into data sciences and machine learning to push the technological edge for our customers to the next level. We are delighted that our machine learning strategy coupled with superior integration with Google Pay is showing results for our merchants”

Google Pay has been deployed by Innoviti across 12,000 points of acceptance including in large pan-India retail chains like Reliance Retail, Vishal Megamart and others. It is being extended to Innoviti’s entire merchant base in a phased manner.  Across India, Innoviti processes 5B$ of payments annually from over 1000+ cities, with a throughput per point of acceptance of 7000$, 2X of India’s average (as per RBI data).  Innoviti provides payment solutions to merchants doing digital billing, by integrating their billing and payment operations into one seamless flow.  


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