Innoviti and Orpak to Drive India's Largest Payment Automation Project at BPCL
Innoviti Payment Solutions and Orpak, have announced its partnership to drive India's largest payment automation project at BPCL. Under this project, 6500 outlets of BPCL (almost 50% of BPCL's retail base) will be automated using Innoviti's payments platform uniPAY, closely integrated with Orpak's fuel automation system. The technology will be running off over 20,000 payment terminals spread across the country.
There are more than 30 million customers that visit 13,000 outlets of BPCL daily as per BPCL Annual Report, 2014-15. Based on industry data, while more than Rs 7,000 crores of payments happen through cards at these outlets, it constitutes less than 5% of overall fuel retail sales of BPCL. Increasing cashless acceptance helps the customer, outlet and the petroleum company create opportunities for increasing sales and drive cashless acceptance in the country. Even the Government of India has recently recommended steps to incentivize e-payments at retail outlets through a draft Cabinet note submitted by the Ministry of Finance.
Innoviti and Orpak have partnered to deliver a unique solution to BPCL using Innoviti's uniPAY payments platform. This helps provide an end-to-end integration for BPCL, from fueling to payment cycle. The solution enhances customer experience by cutting down the payment time and bringing payment acceptance from back office to forecourt. The improvement in attendant productivity and an end-to-end integration provides BPCL with a full control on the outlet level operations for better control. The platform also allows BPCL to seamlessly add new payment options and provides them with customer insights that helps them increase sales.
uniPAY is India's only omni-channel payments platform that allows a business to accept payments through all consumer channels. These could be online, offline, mobile or delivery. The solution capabilities also open up unlimited possibilities for BPCL to explore innovative new payment options to further differentiate their services. Through this solution, BPCL has clearly emerged as the leader in applying payment automation to fuel retail.
Innoviti had earlier closed its Series B round of fund of Rs. 30 crores from Catamaran Ventures and New India Investment Corporation. The company has since actively applied the funds for marketing, product development and enhancing the overall payments infrastructure. Innoviti has added several new features to its product line while enhancing the core processing engine multifold to address processing of up to 10 million transactions a day across multiple channels. The BPCL project clearly positions Innoviti and Orpak as the leaders in fuel payment automation.