Innoviti Payment Solutions is up with a new plan in action which is called “Juno”. It’s a self-healing machine which is aiming to detect and heal the complex payment systems which are based across India. This company is currently backed by investors such as Catamaran Ventures, SBI Venture Capital and Bessemer Venture Partners. It’s one of the most capital-efficient company working in this space.
Talking about Juno, this system overcomes the issue where humans are unable to track any complex problem or a pattern which may cause a malfunction in a sequence of transactions. Most of these malfunctions are caused when there is a bug which gets triggered by a particular sequence of transactions. Juno continuously scours through the error codes which may happen (around 1 million transactions per day). If it finds any break happening, it heals the break before it reaches the terminal (which can make it non functional). Innoviti has been successful in reducing manual errors, speed up time to resolution and enhance its control over its platform performance.
“At Innoviti, we pride ourselves on the industry-leading reliability metrics of our POS terminals – something that is widely recognized as best-in-class by the retail industry. The introduction of the new Juno Self-healing system will further strengthen our innovation edge in this crucial domain. It is in keeping with our ethos that every POS-related problem faced by our customer is our personal headache, even if its origin may actually lie in the external environment or partner networks not working optimally.” said, Mr Gaurav Mehrotra, VP Technology at Innoviti at the launch.
Innoviti has established itself as a leader in the market with its average POS reliability creating a benchmark of 99.3% (vs the industry norm of 92%)