Innoviti Uses ML-Based Path Predictor Tech to Dramatically Improve User Experience of Google Pay Payments

Leading payment solutions provider, Innoviti Payment Solutions, 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 introduction of ML-based Path Predictor technology.  Path Predictor, a 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 dramatic change in UPI success rates and a seamless consumer experience. Since 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.

Commenting on the partnership, Mr. Sajith Sivanandan, Business Director, Google Pay and NBU, India said, ““Our vision is to enable fast, seamless, and secure payments for our users anywhere, at any time, whether they are paying other users, buying products or services online, or shopping at a retail outlet. The offline ecosystem forms an important part of this objective and we're excited to partner with Innoviti and facilitate this across the country.”

Mr. Rajeev Agrawal, Managing Director & Chief Executive Officer of Innoviti said, ““We are very excited by the upsurge we are seeing in customer usage of UPI-based payments at physical stores after the rollout of the Path Predictor tool. With rapid increase in payment transactions and increase in 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.