28th February 2022: Innoviti Payment Solutions, India’s largest provider of payment solutions to offline enterprise merchants shared the success of its BEAM (Brand EMI Accelerator Mission) scheme that the mid-market mobile dealers in Punjab are reaping. Over 10 mobile merchants from Chandigarh have earned promising extra margins via BEAM scheme, even as the markets are recovering from the pandemic.
BEAM was introduced by Innoviti in partnership with all leading mobile brands including OnePlus, Oppo, Xiaomi, Vivo, and Samsung amongst others in Q1 21-22 through G.E.N.I.E. BEAM empowers these mid-market mobile merchants to earn extra margins of 1% on mobile phones of the sponsored brands and 0.5% of all other brands by getting sponsored by these leading mobile brands.
Among the G.E.N.I.E. merchants, beneficiaries of the scheme include – Adidev Global from Chandigarh who earned over Rs. 1 Lakh, and Zealtel Global who earned over Rs.70k. Similarly, other mainline retailers such as Chawla Brothers, AD’s Mobile Arcade and Bansal Trading Co., and Shubh Electricals from Punjab have also extra margins through G.E.N.I.E.’s BEAM scheme.
G.E.N.I.E helps bring online customers back to retail stores, with the interests of the mobile dealer community in mind — particularly in light of the Covid 19 pandemic. G.E.N.I.E has been offering customers attractive instant cashbacks of up to Rs. 999, in addition to all the perks that online sites provide them, such as zero-cost EMIs, etc., to promote walk-ins into mid-market mobile stores and enhance their conversions. GENIE has consistently rewarded merchants across India with increased margins through various programmes and initiatives.
G.E.N.I.E has been empowering SMB mobile dealers to attract clients with attractive cashbacks on 110+ banks, zero-cost EMI plans on 60+ branded and unbranded products, and BEAM, a tool to make extra profits on branded product sales.
Just like in Punjab, several GENIE merchants across India from Haryana in the north to Tamil Nadu in the south are increasing their profit margins by using Innoviti’s GENIE to accept payments. Innoviti uses payment technology in unconventional ways to turn payment transactions into customer acquisition and retention tools for merchants, banks, and brands, by bringing them on to a common platform, and helping them deliver unique customer experiences. Each business gets access to 3X loyal consumers at 1/3rd the cost, accelerating sales with unmatched efficiencies.
Mr. Rajeev Agrawal, CEO, Innoviti Payment Solutions said, “G.E.N.I.E’s BEAM scheme has been an instant success in building collaboration between mid-market mobile stores and leading mobile brands., BEAM enables these mobile dealers to get sponsored by top mobile brands on Innoviti’s G.E.N.I.E Smart Marketing App and earn extra margins with every Brand EMI sale. We are pleased to see GENIE merchants benefiting with additional margins of over Rs. 100,000/- through this scheme.”
“This underlines the dedication of both Innoviti’s and sponsor mobile brands including as Oppo, Vivo, OnePlus, Samsung, and Xiaomi’s amongst others in assisting the mid-market mobile stores ecosystem in recovering from the challenges brought on by the pandemic,” he further adds.
With rapid growth in its business, the company today processes an annualized volume of US$10 Billion from 2,000+ cities. Innoviti has grown rapidly in the past year as leading enterprises chose Innoviti as their partner for their future growth. With a sharply segmented product strategy for each category of retail, Innoviti today is a leader in enterprise offline merchants in the food, fashion, healthcare and electronics categories, processing 76% of all digital payment volume happening there.