Tuesday, September 20, 2016
INOX & Innoviti Partner for Contactless Card Payments at Multiplexes
INOX Leisure Ltd, India’s favourite multiplex chain, announced a strategic partnership with Innoviti Payment Solutions that promises to not only enhance but upgrade customer experience like never before. Through this association customers can now buy a movie ticket or food and beverage items by simply waving the credit or debit card at the contactless card acceptance terminals installed across various INOX multiplexes. This is the first instance across the country where movie-goers will have the opportunity to benefit from the convenience of faster and secure contactless card payment options.
The terminals are currently installed at 40 multiplexes across the 7 metro cities. Gradually, this will be implemented in the remaining multiplexes also. This new technology aims to help movie-goers to make their transactions faster and in a more convenient manner. Moreover, since the card does not need to be handed over to the merchant, it provides an inherent element of security.
Using the well-established Near Field Communication (NFC) technology, these new contactless terminals are compatible with the Visa payWave platform, and can read any of the contactless credit and debit cards being issued by various banks to their cardholders.
Commenting on this partnership, Jitender Verma, Chief Technology Officer at INOX said: “Consumers today are a discerning lot and look for best- in-class service from any provider. We are excited to be able to innovate and create such opportunities. INOX has forever been at the forefront of technological innovations and this alliance with Innoviti Payment Solutions is another significant move towards ensuring a comprehensive customer service experience for all our guests.”
TR Ramachandran, Group Country Manager, India and South Asia, Visa said, “Visa payWave technology is gaining momentum with increasing adoption among merchants and an easier, faster and secure option for consumers to pay. As the payments ecosystem develops, Visa will continue to deliver innovative solutions across segments and categories to drive usage in familiar environments. We are delighted to welcome INOX to the family of establishments accepting Visa payWave contactless cards.”
Ravi Manik, Head of Payments and Consumer Lending business at Innoviti says, “We have consistently been at the forefront of innovation in India’s rapidly evolving payments scenario, and are delighted to partner INOX in providing their customers with this greater payment flexibility. We feel making such easy contactless payment available could be the trigger that is needed to shift a large chunk of purchases away from cash, and towards cards and other non-cash instruments.”
As per RBI guidelines, for transactions up to Rs 2000, Visa payWave cardholders can use their contactless cards without having to enter a PIN or sign transaction receipts. The Visa payWave enabled contactless cards ensure that transactions are secure, as the card never leaves the hands of the customer thereby reducing the risk of card loss and fraud. It also reduces queueing time for customers as it is a faster way to pay.