Innoviti enables UPI on delivery solution for small merchants

MUMBAI: Innoviti Payment Solutions has developed a service that enables restaurants and other doorstep providers to collect electronic

payments

against bills against

delivery

, without contact or any hardware.

“We have launched a cashless payment solution developed around delivery services which does away with the need for machines. The delivery guy hands over an invoice which has a Bharat QR code printed which the customer has to scan and pay,” said

Rajeev Agarwal

, CEO Innoviti. Until now utility companies have been the ones having payment QR codes on their bill. Small merchants have not had the technology to print payment QR codes. Also, while some small service providers do use the peer-to-peer version of UPI, those with billing systems cannot use p2p as they need to reconcile and confirm every payment.

According to Agarwal, what his company has done is innovate amidst a lockdown. “The customer does not want to pay upfront because he is not sure of delivery, at the same time he wants contactless. The merchant does not want to increase costs and does not have access to hardware. This solution addresses all three -- post-paid, contactless and low cost,” he said.

What Innoviti does is take care of the fund management and reconciliation by receiving funds into its account and sends an instant text message to the designated number confirming receipt. The funds are transferred by the next day to the merchant and there is also a reconciliation of the invoices for which payments have been received.
Two multinationals – a pizza company and a fast-food chain have already signed up. The deployment was possible during the lockdown as the company has made available its API (application programming interface) to which the merchant’s systems can send their invoice number, the bill amount and the company’s unified payment interface (UPI) credentials. Innoviti’s systems immediately return a string of data which can be printed as a Bharat QR code on the invoice or flashed on the screen of the delivery person.

All the delivery person has to do is to hand over the item and the invoice. The customer can scan the QR using the UPI or credit card app of his choice. In India bulk of UPI transactions take place through Paytm, PhonePe, or Google Pay. Since Bharat QR incorporates both UPI and credit card payments the customer can make a payment using a credit card application as well.

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