Smart Payments, Smarter Retail: Innoviti’s AI-Driven UPI Backup Takes Charge

Innoviti Technologies has unveiled India’s first AI-powered UPI Acquirer Backup Application, designed to enhance transaction reliability for organized retailers. This breakthrough ensures seamless payments by automatically switching to a secondary UPI acquirer when the primary one falters, preventing checkout delays and reducing merchant discount rate (MDR) costs.  

 

With UPI adoption soaring, retailers have faced challenges when acquirer failures push customers toward high-MDR credit card transactions. Innoviti’s AI-driven solution tackles this issue by predicting acquirer reliability and preemptively rerouting transactions, safeguarding both revenue and customer experience.  

 

Already deployed by major retailers, the application has demonstrated significant cost savings while streamlining payment processing. As digital payments continue to evolve, Innoviti’s innovation marks a pivotal step in making UPI transactions more resilient and efficient.  

 

Sources: Innoviti, Times of Startups