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. 

Metz Launches Infinity Screen Google Certified Android 8.0 Smart TVs on Amazon.in

Premium German brand METZ has launched android 8.0 Smart TVs today in India on Amazon. in. The newly launched TV comprises of 32 inch (M32E6) HD Ready Android 8.0 Infinity Screen TV  @ 12999, 40 inch (M40E6) Full HD Android 8.0 Infinity Screen TV @ 20999, 50 inch (M50G2) 4K UHD Android 8.0 Infinity Screen TV @36999 and 55 inch (M55G2) 4K UHD Android 8.0 Infinity Screen TV @ 42999.

The newly launched TVs are Google Certified Android and are known for their remarkable features including German Technology , premium Aesthetics, Bezel less Infinity Screen ,high resolution, millions of apps from Google play store, YouTube, Hot star, Netflix,  and many more such attributes.

Speaking on the occasion Mr. Norbert Kotzbauer CEO METZ Germany & Mr. Victor Wan- MD- METZ India said “We are happy to launch 4 SKU today on Amazon. in. Our products are characterized by incredible German engineering and are simple to operate. Our products are also known for their latest smart functions that allow unlimited entertainment in the living room.”

Speaking about the launch Garima Gupta, Category Leader – Televisions, Amazon India (Designation) said “We are excited to partner with METZ to bring their Android 8.0 Smart TVs for our customers on Amazon.in. With this partnership, we continue to build a strong portfolio of televisions offering vast selection, great value, fast doorstep delivery and an unparalleled shopping experience.”

With the aim of enchanting its customers by its marvel of engineering, performance and durability, METZ, the premium German brand, acquired by Skyworth in 2015, and is all set to unveil its premium range LED TVs.  Metz brand range of UHD, OLED with advanced technology of AI will be made available online on Amazon. in in India.

Meeting the aspirations of Indian customers for latest technology products at the best value will be the Hall mark of Metz brand in India.

CreditAccess Grameen Crosses 10 Lakh Disbursals in Water and Sanitation Loans

Bengaluru headquartered  CreditAccess Grameen Limited (NSE: CREDITACC, BSE: 541770), country’s second largest microfinance NBFC, disburses over 10 lakhs water and sanitation loans.

An in-house feasibility study by CreditAccess Grameen team found that lack of hygiene practices and proper sanitation facilities were the main reasons behind poor health conditions in rural areas.  To counteract the issue, the company had pioneered a three pronged strategy that included creating awareness, imparting training on various aspects of sanitation and providing access to affordable credit for toilet construction to needy customers since 2011-12.

Commenting on this milestone, Mr. Udaya Kumar Hebbar, Managing Director and CEO of CreditAccess Grameen, said, “We remain committed to creating a Swachh India, by enabling access to safe water and sanitation facilities. Our approach of reaching out to people at grassroots level and building a sustainable model ground up has helped us to leverage the programme. CreditAccess Grameen has been continuously working on awareness building at village level, panchayat level, our customer level as well as at schools around our branches about Water, Sanitation and Hygiene (WASH) as part of our CSR program using our employees, volunteers, wall paintings and rural street plays.

“In a distinctive sense, sanitation loans are not income generating but it creates a stream of benefits for the borrowers by reducing medical expenses, number of days lost of illness and increasing productivity. So in effect these loans can be classified as income enhancing. Furthermore, to reduce the stress of repayments, even the loan size is kept at just about Rs 15000/-, and we allow our customers to repay in two years” He added.

In the communities where CreditAccess Grameen is actively involved, the impact of its comprehensive awareness program and the affordable credit facility is very evident with people queuing up to avail the loans to build toilets. Customer awareness activities are being executed in assistance with the CSR partner NGO, Navya Disha to educate the masses.  The organization aims to reach more than 2 million people through various activities such as branch staff training, gram Panchayat level awareness programs, customer orientation at group meetings, street plays, district level workshops and orientation programs for high school students.

The Company has received several awards and recognitions for its effort in providing affordable loans to build toilets and access a clean drinking water supply. In the year 2017, CA Grameen received the ISC-FICCI 2017 award for Best Financial Accessibility for Sanitation and also won the SKOCH Resilient India Award 2017 for Sanitation.

QuEST Global Unveils Product Engineering Services and Solutions Center in France

QuEST Global, a global product engineering and lifecycle services company, has opened its engineering center in France. The new center, inaugurated by Ajit Prabhu, Chairman and CEO, QuEST Global, is part of the company’s vision to be the most recognized and trusted engineering services and solutions provider to its customers. By enabling its customers to create new products, open new markets and maximize efficiency, the new center will strengthen QuEST Global’s commitment to solve some of the toughest problems faced by OEMs and Tier 1 suppliers in the region. With this center in France, QuEST Global has expanded its footprint across 14 countries globally. In Europe, the company currently has delivery centers in the UK, Germany, Spain, Romania, Sweden and Italy.

Located in Toulouse, this center aims at delivering comprehensive product engineering services and solutions by converging mechanical, electronics, software and digital design services for the company’s customers across the aerospace & defense, aero engines, oil & gas, power and industrial domains. The center will enable QuEST Global to introduce a host of services and solutions, for its strategic customers like Airbus. This will include the provision of manufacturing engineering services, design and analysis, data analytics, blueprint solutions around block chain, predictive maintenance, nFlow engine around chat bot integration and augmented reality based solution AR360.

Being an innovative global company with local flavor, this center will enable QuEST Global to bring its global domain and engineering expertise to France by adopting its local-global business model. In this center, the company will set up a digital innovation lab specifically for Aerospace & Defense and Aero Engine industries that will showcase the company’s investments in the factory of the future. The innovation in this lab will be fueled by a think-tank team of engineers with digital design and manufacturing expertise.

QuEST Global has been a partner of Airbus since 2008 and has been delivering design engineering solutions with maximum innovative productivity improvements. As a leader in providing premium product engineering services and solutions, QuEST Global is a trusted global player in the industry. The investments QuEST Global is making in the region aim at addressing various new age engineering challenges in France and other European markets.

Bob Harvey, President, QuEST Global said, “In the past two decades, as a trusted thinking partner to our customers, we have scaled our European footprint with a proactive approach of investing in the local markets that have helped us to be close to our customers. The center in Toulouse is a testimony of our deep commitment towards our strategic customers and the local economy where we will be creating employment opportunities and hiring more people over the years. Our unique synergy with customers, the ability to expand in various global markets through our integrated local–global delivery approach and the expertise in converging mechanical, electronics, digital and software technologies helps us solve complex engineering challenges faced by our customers.”

QuEST Global’s European team of over 2300 engineers has been supporting customers in the UK, Germany, France, Spain, Italy, Sweden, Norway, Poland and Romania with a focus on the Aerospace & Defense, Industrial, Transportation (Automotive and Rail), Oil & Gas, Power and Medical Devices industries. Over the years, the company has grown exponentially in the European region and the offices across this geography play a vital role in the local-global business model of QuEST Global.

Boeing and HAL Celebrate Delivery of 150th Gun Bay Door for the F/A-18 Super Hornet

Hindustan Aeronautics Limited (HAL) celebrated a milestone with Boeing, with the delivery of the 150th gun bay door for the F/A-18 Super Hornet.

The Boeing F/A-18 Super Hornet is a twin-engine supersonic all weather, carrier-capable multirole combat jet delivering cutting-edge, next-generation multi-role strike fighter capability.

HAL has been Boeing’s long-term supplier in India for over 25 years. Boeing awarded HAL the contract to manufacture gun bay doors for the Super Hornet in 2007.

“We’re proud of our partnership with HAL. This delivery of the 150th gun bay door for the Super Hornet demonstrates that Indian suppliers are an integral part of Boeing’s global supply chain. This milestone is yet another endorsement of our commitment to India, which is well recognized today, because we’ve been investing and making in India for several years now,” said Salil Gupte, president, Boeing India. “Our investments in India are robust and ongoing, spanning technology, hi-tech innovation, production capacity, establishing a supply chain network, and developing skilling centers for aerospace manufacturing in India,” Gupte added.

“HAL is committed to strengthening aerospace manufacturing in India. This delivery is not just an important milestone for HAL, but also for Boeing and the Indian industry,” said R. Madhavan, chairman and managing director, Hindustan Aeronautics Limited. “We thank Boeing for their support and commitment to Make in India,” he added.

Boeing has offered to build a 21st century aerospace ecosystem in India for manufacturing the F/A-18 Super Hornet with Indian partners, HAL and Mahindra Defence Systems (MDS). This production will create thousands of jobs and hundreds of suppliers in India, similar to the largest Boeing aerospace ecosystem that exists in the U.S., to help realize the Make in India vision to its full potential.

Boeing’s sourcing from India now stands at $1 billion with over 160 existing industrial partners who are raising the bar to deliver excellent quality and productivity, and becoming an important part of the company’s worldwide supply chain for some of the most innovative aerospace products in the world.

Cure.fit Raises $120 Million in Series D Funding in Indian Market

Health and fitness start-up cure.fit announced today that it has raised $120 million in the series D round of equity and debt funding. Led by Chiratae Ventures (formerly IDG Ventures), Accel Partners, Kalaari Capital & Oaktree Capital; the new investors Epiq Capital, Unilever Ventures, Innoven Capital and Kotak Mahindra Bank joined the 4th round of funding for the three year old start-up. The fresh investment will fund cure.fit’s expansion plans in India and globally.

Founded in 2016 by Mukesh Bansal and Ankit Nagori, cure.fit, one of India’s highest funded start-ups, has built the world's first integrated health platform that brings together all aspects of healthy lifestyle on one platform. With over 2 million downloads, cure.fit has built an innovative tech platform to manage every day health and built an offline fulfilment network for all its services.

With presence in Bengaluru, Mumbai, Delhi-NCR region, Hyderabad, Chennai, Jaipur and the recent foray into Dubai, cure.fit’s innovative and holistic approach has been adopted by over 500K active subscribers across various offerings with strong cross usage between services. Cure.fit has over 180 cult.fit centres, 35 mind.fit centres and aims to grow this to over 800 centres by 2020. Eat.fit is servicing over 35K meals/day now and doubling every 3 months.

Mukesh Bansal commented, "Health habits of consumers has changed over the past few years and the need for new tech driven approach is a need for a much better consumer experience. cure.fit has created a unique platform and category to help meet this demand and to become the go to destination for all health needs for India. Leveraging deep tech and strong on-ground network, we aspire to service over 100 million consumers over next 10 years”.

“Accel continues to be a strong supporter of cure.fit since their inception. The team has identified a unique customer value proposition (exemplified by best in class NPS) across the health & wellness sector, in a rapidly expanding market. We therefore really appreciate the opportunity to lead another round of investment in the company!”, said Subrata Mitra, Partner at Accel.

Sudhir Sethi, Founder & Chairman of Chiratae Ventures, added “cure.fit in its last 3 years blazed to India’s dominant Fitness and Health Tech Player. Now with the Dubai operations, it’s well poised to take the unique offering to international markets. Another Indian Consumer Brand going global".

“We are proud of our continued association with cure.fit. The leadership team has set high standards to serve customers and deliver great products”, said Vani Kola, Managing Director at Kalaari Capital.

“cure.Fit has emerged as one of the largest and fastest growing health & wellness integrated platform in Asia. Combining seamlessly online and offline experiences, cure.fit technology has created an intelligent, personalised and versatile health companion that takes a holistic approach to physical and mental wellbeing. We are excited on the opportunity to work with the cure.fit team”, said Pawan Chaturvedi, Investment Director at Unilever Ventures.

Investors in Series D funding round include existing investors - Accel Partners, Kalaari Capital, Chiratae Ventures (formerly IDG Ventures) and Oaktree Capital; along with new investors – Epiq Capital, Unilever Ventures, Innoven Capital, Kotak Mahindra Bank, Kris Gopalkrishnan Family Office and Bruno Rachelle Family Office.

Citrix Strengthens Channel Presence, Announces Savex Technologies as New Distributor in India

Citrix has announced its expanded presence across the channel ecosystem in India, through the appointment of its third distributor in the region, Savex Technologies. Designed to drive deeper levels of reseller engagement across the region, the expanded distribution network aims to provide better partner access to secure workplaces, networking and cloud solutions, for their businesses and our mutual customers.

Commenting on the appointment, Raghuram Krishnan, Director-Partner, Citrix India, said “Citrix is glad to welcome Savex Technologies on board and we are confident that our strategic partnership will enhance our presence in the region and help us reach new markets. Savex Technologies’ expertise makes them a natural fit to offer value-added Citrix solutions and services to our India reseller ecosystem. We look forward to a great partnership with them.”

Anil Jagasia – Founder and Chairman, Savex Technologies Pvt Ltd said; "We are pleased to collaborate with a leading technology solutions provider like Citrix and showcase Citrix’s solutions and services to our reseller base. The Citrix portfolio greatly compliments ours, this strategic partnership will enable us to further deliver Citrix technologies into the channel, ultimately supporting our mutual customers and helping to ensure success in this fast-growing market. "

About Savex:  Established in 1988 and continuously evolving since then, Savex is one of the largest Information and Communication Technology distributor in India.  Headquartered in Mumbai, the company is having 39 sales offices, and 42 stock locations, a sales force of over 400 and 7000+ partners in 700 cities.

With 30years of experience in the Indian ICT Industry Savex core strengths lies in selection of Best breed of Products and Solutions, Seasoned Team with knowledge and expertise along with Cutting edge technology and rigorous process control, Savex focuses on solution Selling and Security Services with strong Logistics and ability to deliver in 700 cities in India and globally over 200 countries in local currency. Savex also has a network of over 20000 engineers as part of our extended team.

Under guidance from Leadership Team comprising of Anil Jagasia – Founder and Chairman, Jayant Goradia – CEO and Director, Devang Pandya – CTO and Director, Raunak Jagasia- Director Enterprise Business and Alliance, Mahendra Wahile – Director and Saurabh Naik – Director, company has been able to maintain trust and integrity in the market

Savex Technologies will join Citrix with their existing distributors in the India, Nepal, Bhutan, Bangladesh, Srilanka and Maldives market, who have played a key role in helping partners to capitalize on growing market opportunities. The newly appointed distributor will provide Citrix’s partner ecosystem with increased support in the key focus areas of secure workspaces, networking and cloud, in addition to more enablement opportunities and expanded access to multi-vendor configurations.