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Innoviti powers Visa to enable deeper financial inclusion with offline payments in India

Reaffirms Innoviti’s commitment to contribute technologically towards building a cashless India

BENGALURU, India, Sept. 7, 2021 /PRNewswire/ —

  • Visa, the global leader in digital payments and Innoviti Payment Solutions, India’s largest provider of payment solutions to offline enterprise merchants have partnered to drive a Proof of Concept (POC) for offline payments in India. The POC has been executed by Innoviti in Bengaluru in partnership with Yes Bank and Axis Bank.
  • A first in India, the offline payments technology will help improve reach of digital payments into small towns/ rural and remote areas and reduce dependency on internet for payments acceptance via chip-based Visa debit, credit, and prepaid cards even in places with low or no internet connectivity. This solution is aimed to contribute towards creating greater financial inclusion across rural, urban, and remote areas.
  • India faces a major challenge in terms of last-mile internet connectivity. Due to these infrastructural limitations and the resultant inconvenience, there are gaps in adoption of digital payments across smaller towns and rural pockets of the country. This is where the offline payments technology initiative is expected to bridge these gaps and help the merchants and consumers in these pockets benefit immensely by adopting digital payments, especially for micro-payments.
  • The offline payments technology is in-line with the government’s vision of enabling greater financial inclusion. With the deep penetration that debit cards have across India, offline payments using Visa cards is expected to facilitate transition of payments from cash to digital. Visa cardholders may soon get to request their bank for a fresh card that enables this solution.
  • The chip in this new Visa debit card will hold a stored value of a daily spend limit of INR 2,000 and have a per transaction limit of INR 200, which are the limits mandated by the RBI currently. This is akin to having a wallet with an amount preloaded into it. In the event of insufficient balance, the transaction will be declined, making this proposition conducive for cardholders as well as merchants. Merchants also stand to gain revenue from reduced friction and risk of payment failures. Visa’s solution is the first of its kind and equipped to enter the Indian market.
  • Innoviti processes US$10 Billion of annualized offline merchant payment volume (~ 6% of India’s offline merchant volume, based on RBI data), turning payment transactions into business collaborations by creating software that brings merchants, banks, brands together to create new and unique ways of providing superior experiences to their common consumers.
  • Innoviti uses payment technology in unconventional ways to turn payment transactions into customer acquisition and retention tools for merchants, bank, and brands, by bringing them on to a common platform, and helping them deliver unique customer experiences, such as this one. Each business gets access to 3X loyal consumers at 1/3rd the cost, accelerating sales with unmatched efficiencies.
  • Innoviti had raised a Series C in 2020 to further its differentiated strategy of servicing the retail market through category and segment specific products.
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Quotes:

“The pandemic’s unprecedented impact has spurred significant movement in the digital payments ecosystem. With the RBI’s cognizance of low and no connectivity being major impediments to financial inclusion, offline payments have emerged as an innovative and low-cost solution, where internet connectivity and failed transactions are top concerns of consumers and merchants. Visa aims to change the way we pay, and this POC is going to do just that. We also aim to work with more issuers to scale this solution across banks and their cardholders,” said T.R. Ramachandran, Group Country Manager, India and South Asia, Visa.

“Lack of Internet connectivity have limited the democratization of digital payment acceptance in the country, as all existing payment technologies need real-time connectivity for authentication and authorization.  Transaction failures arising from low quality connectivity impact consumer and merchant confidence, further impeding digital payment acceptance. Offline payments are a fast, reliable, and low-cost way of solving this problem that can change the way payments happen.  We are excited about partnering with Visa, Yes Bank and Axis Bank in this pilot,” said Rajeev Agrawal, MD & CEO, Innoviti Payment Solutions, India.

About Innoviti Payment Solutions Pvt. Ltd., Bangalore, India.

https://www.innoviti.com

Innoviti Payment Solutions Pvt. Ltd. is India’s largest provider of payment solutions to Enterprise merchants with a 76% market share of all payments happening in this segment.  It has been a pioneer in using technology to help businesses extract better value from retail transactions than anyone else. The company processes over 10B$ of merchant payments from over 1000+ cities with a volume throughput per installation that is 2X of the country’s average. Bessemer Venture Partners, USA, FMO, Netherlands and Catamaran Ventures, India are investors in the company. The company has several patents filed for with two awarded.  Innoviti is the winner of Mastercard’s Innovation Wizards Award, Reliance’s Most Promising Growth Consumer Finance Award and Deloitte Fastest Growing Companies in Asia award in 2020. Innoviti is the only Indian payments SaaS company to be awarded the coveted SOC3 seal of excellence for adherence to principles of trust in privacy, security, confidentiality, availability, and processing of transactions.

About Visa Inc.

Visa is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device. As the world moves from analogue to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information visit usa.visa.com/about-visa.html, usa.visa.com/visa-everywhere/blog.html and @VisaNews.

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teamLab Phenomena Abu Dhabi opens its doors to the public in Saadiyat Cultural District

  • The innovative multi-sensory art experience redefines the boundaries of immersive art
  • Purpose-built 17,000 sqm venue features transformative artworks unique to Abu Dhabi
  • Opening music composed and performed by renowned Italian pianist Ludovico Einaudi
  • teamLab Phenomena Abu Dhabi takes guests on a sensory-rich journey that transcends the ordinary and ignites curiosity for all

ABU DHABI, UAE, April 18, 2025 /PRNewswire/ — teamLab Phenomena Abu Dhabi officially opened its transformative multi-sensory art experience within Saadiyat Cultural District, an enriching addition to Abu Dhabi’s dynamic cultural and artistic landscape.

To view the Multimedia News Release, please click:   https://www.multivu.com/teamlab_phenomena/9331451-en-gb-teamlab-phenomena-abu-dhabi-opens-saadiyat-cultural-district

On 17 April, the grand opening celebration welcomed distinguished guests and cultural leaders, featuring a specially composed performance by renowned Italian pianist and composer Ludovico Einaudi. Set against the venue’s unique architecture, the score was paired with a dramatic display of 6,000 synchronised drones and pyrotechnics, curated to celebrate the new milestone for Saadiyat Cultural District, and reflect the connection between art, technology and imagination.

H.E. Mohamed Khalifa Al Mubarak, Chairman of the Department of Culture and Tourism – Abu Dhabi, said: “teamLab Phenomena Abu Dhabi is a groundbreaking cultural landmark that redefines immersive art experiences on a global scale. It embodies a bold vision that pushes the boundaries of creativity, technology, and human perception, offering visitors an experience unlike any other. Together with our partner, teamLab, we take great pride in bringing this pioneering concept to life, reinforcing our commitment to shaping world-class experiences that inspire, engage, and contribute to Abu Dhabi’s cultural legacy. Saadiyat Cultural District is a cultural landmark of global significance, bringing together the world’s greatest minds and institutions to foster dialogue, inspire creativity, and shape a more connected future.”

Following the opening ceremony, guests were immersed within newly unveiled teamLab Phenomena Abu Dhabi exhibits, meandering between its inspiring artistic installations, interacting with the dynamic artworks, and experiencing the connection between art, technology and natural phenomena.

Toshiyuki Inoko, Founder of teamLab, said: “The artworks in teamLab Phenomena do not exist independently but are created by the environment which produces the various phenomena that creates the artworks. Objects such as stones and man-made creations maintain a stable structure independently. A stone, for instance, will remain unchanged even if placed in a sealed box, isolated from the outside world. In contrast, a vortex in the ocean will vanish in an instant if removed from its environment. Unlike a stone, a vortex does not sustain itself; it evolves with the surrounding currents, formed by water flowing continuously from the outside to the inside and from the inside to the outside of the vortex, changing along with the flow. Moreover, the boundaries of its existence are ambiguous, and there is no material distinction between the vortex and its surroundings.

“The unique environment produces the phenomena, and the environment maintains the existence of the structure. Let us call that existence Environmental Phenomena. The artwork is inseparable from the environment and changes along with the environment. This concept transcends the various conventional notions of existence by physical forms. Even if people immerse themselves physically into the artwork, the artwork will remain intact, capable of naturally restoring itself even if disrupted. However, when the environment is not sustained, the artwork will disappear. The boundaries of the artwork are ambiguous and continuous with the environment. Perhaps, people’s consciousness will expand from the artwork itself to the environment beyond.”

Spanning 17,000 square metres, teamLab Phenomena Abu Dhabi has been developed by the internationally acclaimed art collective teamLab, in collaboration with the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi). The multi-sensory art experience reflects the emirate’s unwavering commitment to fostering creativity and cultural innovation on a global scale, and it presents massive transformative artworks that each blend art, science and technology in groundbreaking ways.

teamLab Phenomena Abu Dhabi is designed to explore and transcend the limits of every guest’s imagination. Each artwork within the unique, purpose-built venue will evolve over time through the interplay of light, sound and movement. Unlike artworks at traditional galleries, visitors will discover exhibits that are fluid, existing in a dynamic relationship with their environment. Each artwork responds to guests’ actions and natural changes in the environment, creating a living, breathing art experience, unlike any other.

Comprising two distinct Wet and Dry areas, guests will be immersed in a series of mesmerising visuals, vibrant landscapes and interactive installations that dissolve the boundaries between art and audience. Every moment offers a new philosophical experience, ensuring that each visitor experience is unique.

In the Dry area, visitors will encounter a variety of artworks that encourage interaction, responding to their movements and actions to create a unique connection between guests and the installations. As they move into the Wet area, guests will follow a dedicated walkway leading them into an exciting realm filled with fluid, hands-on experiences that further deepen their connection with the art.

teamLab Phenomena Abu Dhabi is a key addition to Saadiyat Cultural District, which upon completion will be the largest concentration of world-leading cultural and educational institutions. The District is home to an unparalleled lineup of museums and cultural landmarks, including Louvre Abu Dhabi; the upcoming Zayed National Museum, the national museum of the UAE; Guggenheim Abu Dhabi, featuring a global collection of modern and contemporary art that reflects the diversity of cultures and trends from around the world; and Natural History Museum Abu Dhabi, telling the story of life on earth and the origins of our universe.

The addition of teamLab Phenomena reinforces Abu Dhabi’s position as a global cultural epicentre, offering visitors a unique and transformative experience while showcasing its commitment to creativity, innovation and cultural collaboration on a global scale.

For more information and to purchase tickets: www.teamlababudhabi.com 

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teamLab Phenomena Abu Dhabi Grand Opening Main Image - Credits: teamLab Phenomena Abu Dhabi

 

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Tyger Capital and Credgenics join hands to redefine collections management with innovative tech solutions

  • Leverage Machine Learning insights backed communications approach
  • Facilitate digital enablement of field team and offer integrated payments

NEW DELHI, April 18, 2025 /PRNewswire/ — Tyger Capital, India’s leading non-banking financial company (NBFC), has joined hands with Credgenics, the leading provider of SaaS-based collections and debt resolution technology solutions worldwide. This technology collaboration marks a significant stride towards reshaping the debt collections landscape, leveraging Credgenics’ comprehensive suite of solutions to streamline and optimize Tyger Capital’s loan collections management process.

At Tyger Capital, Credgenics’ AI powered SaaS based platform will help adopt a data-insights backed personalized approach for communications with borrowers across multiple digital channels including WhatsApp, SMS, and emails. With Credgenics CG Collect, the mobile app for field collection teams, the last mile operations will be digitized to unlock higher productivity and operational efficiency.

Commenting on the partnership, Rajaram Manian B, Chief Risk Officer of Tyger Capital, said, “We are excited to leverage Credgenics technology solutions in collections as we are committed to deliver unparalleled financial services powered by cutting-edge technologies and customer-centric approaches. This collaboration aligns with our mantra ‘Customer first’ and our focus on providing exceptional service to our customers while optimizing our operations through innovation and digital transformation.”

Credgenics technology platform will optimize field team operations, enable seamless collection transaction reconciliations, provide digitized customer visit management, and provide real-time tracking capabilities. Credgenics Billzy payments platform will facilitate borrowers to make digital loan payments swiftly, securely, and conveniently. Adoption of cutting-edge solutions from Credgenics promises higher response rates, accelerated debt resolutions, and reduced operational costs, positioning Tyger Capital at the forefront of customer service excellence.

Rishabh Goel, Co-Founder and CEO of Credgenics, said, “Our engagement with Tyger Capital is an extremely valuable addition to our customer base from the NBFC segment. We are confident that Credgenics’ comprehensive solutions will tremendously enhance the collection management process at Tyger Capital. With our focus on continual innovation, enhanced customer experience and strict adherence to regulatory compliance, we aim to deliver significant business value at Tyger Capital.”

The collaboration between Credgenics and Tyger Capital is set to drive a transformative shift in collection management and debt resolution by leveraging cutting-edge technologies. This strategic partnership will enable both companies to deliver enhanced value to their customers while driving sustainable growth and profitability.

About Credgenics

Credgenics is the leading provider of Loan Collections and Debt Resolution technology platforms to Banks, Non-banking finance companies, FinTechs, and ARCs worldwide. The AI-powered SaaS-based platform has been recognized as the #1 Best Selling Loan Collections Platform in India by IBS Intelligence in their Annual Sales League Table for three years consecutively. Credgenics caters to the end-to-end collection lifecycle for retail and SME / MSME debt and works with over 150 customers. It handled more than 98 million retail loan accounts worth over USD 250 Billion in FY24 for collections and has sent over 1.7 billion omni-channel communications. With Credgenics, lenders have increased resolution rates by 20%, improved collections by 25%, reduced collections costs by 40%, reduced collections time by 30%, and improved legal process efficiencies by 60%. https://www.credgenics.com/ 

About Tyger Capital

Tyger Capital Private Limited is a Non-Banking Financial Company (NBFC) headquartered in Mumbai, Maharashtra, India. Established in 2016, the company commenced lending operations in April 2017 with a mission to support entrepreneurship by providing financial solutions tailored for Micro, Small, and Medium Enterprises (MSMEs) and rural development. Tyger Capital is dedicated to be the most “economical” and “convenient” lender – Instant disbursement to underserved communities and small businesses. The company’s vision is to be a trusted financial partner that educates, guides, and supports customers, fostering active participation in the financial ecosystem. Tyger Capital has a robust presence with a network of 250 branches across nine states: Andhra Pradesh, Gujarat, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu, Telangana, and Uttar Pradesh. This extensive reach enables the company to effectively serve a diverse clientele. Tyger Capital is committed to empowering entrepreneurs and fostering economic growth through its comprehensive financial solutions and customer-centric approach. https://tygercapital.in/

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Herbalife India Launches New Podcast Series – Live Your Best Life, Unscripted

The debut episode explores holistic wellness, mental resilience, and performance strategies with renowned sports scientist and high-performance coach Shayamal Vallabhjee.

BENGALURU, India, April 17, 2025 /PRNewswire/ — In a world where wellness conversations are often reduced to diet fads and fitness trends, Herbalife India, a premier health and wellness company, community and platform is bringing a refreshing change with the launch of its brand-new podcast series — ‘Live Your Best Life, Unscripted’.

Designed as an honest, inspiring, and insightful platform, the podcast brings together experts, athletes, and thought leaders to share their journeys, insights, and lessons on holistic well-being — not just physical fitness, but also mental resilience and emotional balance.

The series is hosted by Ajay Khanna, Managing Director of Herbalife India, who leads engaging conversations with personalities known for their contributions to health, wellness, and performance.

Kicking off the series is an insightful episode featuring Shayamal Vallabhjee — a celebrated sports scientist, high-performance coach, and author. With over two decades of experience working with elite athletes and teams worldwide, Shayamal offers a fresh perspective on what it really means to live a balanced life.

From his experiences growing up in South Africa to living as a monk, Shayamal shares how discipline, mental strength, and spirituality shape both performance and overall well-being. The conversation also explores the role of technology, the importance of gut health, mindful eating, and perhaps most importantly — self-compassion.

Speaking on the launch of the podcast, Ajay Khanna, Managing Director, Herbalife India, said:

“At Herbalife, we believe wellness is a lifelong journey—one that goes beyond counting calories or tracking fitness goals. Live Your Best Life, Unscripted is our way of fostering real, thought-provoking conversations that inspire people to embrace a more holistic approach to health. Through this podcast, we hope to empower listeners with insights from experts and changemakers, encouraging them to prioritize not just physical well-being, but also mental resilience and emotional balance.”

The podcast is available in both video and audio formats — making it easy for viewers to tune in from anywhere.

Watch the Full Episode on Herbalife’s YouTube Channel

https://youtu.be/4FejO3wdSRI

Prefer Audio? Listen to the Podcast here: Apple Podcast:

https://podcasts.apple.com/us/podcast/live-your-best-life-unscripted/id1808386057

Spotify Podcast: https://open.spotify.com/episode/5dn8QAS0Ods24TVLxyeYsS?si=oeD3ZkONQFqzzs4aeU1w6A

Amazon Music:

https://music.amazon.com/podcasts/a53233b6-84b5-43ce-a34a-5230c769168b/episodes/e153ee13-3174-456b-923a-98ed191c21c5/live-your-best-life-unscripted-the-science-of-wellness-with-shayamal-vallabhjee-live-your-best-life-unscripted

This is just the beginning. New episodes of Live Your Best Life, Unscripted will continue to feature inspiring voices from the world of sports, nutrition, and wellness.

Herbalife

(NYSE: HLF) is a premier health and wellness company, community and platform that has been changing people’s lives with great nutrition products and a business opportunity for its independent distributors since 1980. The Company offers science-backed food products to consumers in more than 90 markets through entrepreneurial distributors who provide one-on-one coaching and a supportive community that inspires their customers to embrace a healthier, more active lifestyle to live their best life.

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