Innoviti Introduces Cloud Payment Reconciliation Technology for Restaurants | Hospitali... - 0 views
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Innoviti Payment Solutions announced that after successful pilots, it will now start extending its newly introduced cloud-based reconciliation technology to full-service restaurants, that require payments to be collected at a customer's table with automatic reconciliation with the bill.
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The new technology works in a simple way. In a typical restaurant example, the central billing server first uploads every new bill generated to Innoviti's cloud-based integration server. Thus, the Innoviti Integration Server maintains an updated real time list of all pending bills that are yet to be paid. When a patron calls for his check, the waiter assigned to the relevant table simply uses the table's id to 'pull' the correct pending bill from cloud-based integration server on to the portable POS terminal in his hand. Once payment is completed on POS terminal, it generates an on-spot charge slip and updates back the necessary payment details against the specific pending bill on cloud server and then onwards to the restaurant billing server which initiated the bill.
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Across India, Innoviti processes over US$ 6.5Bn of payments annually from over 1000+ cities, with a throughput per point of acceptance of 7000$, 2X of India's average (as per RBI data). Innoviti's payment solutions help merchants, banks and brands influence commercial transactions happening in offline commerce more efficiently than possible otherwise, through unconventional use of payment terminals.
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Innoviti Payment Solutions announced that it will start extending its cloud-based reconciliation technology to full-service restaurants, that need payments to be collected at a customer's table with automatic reconciliation with the bill. Innoviti processes over US$ 6.5Bn of payments annually from over 1000+ cities in India and is backed by major financial investers like Catamaran, India, Bessemer Venture Partners, USA, and SBI Venture Capital, Singapore.