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Innoviti introduces cloud payment reconciliation technology

By Retail4Growth Team | March 13, 2020

The newly introduced reconciliation technology is likely to extend to full-service restaurants that want payments to be collected at a customer’s table with automatic reconciliation with the bill

Leading payment solutions provider, 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.

In typical retail checkout scenario, this billing-payments integration is often powered via a wired USB connection between the store billing server and the POS terminal usually kept adjacent to it. This need for the POS terminal to be on same counter as billing server restricts the potential portability of the POS terminal. This may not be a huge concern for retail formats where customers queue up to make payment at stationary billing counters. However, in use case like full-service restaurants, the POS terminal needs to accept payments at the table.

Shivendra Meena, Vice President - Retail Technology, Innoviti said, "At Innoviti, we pride ourselves on our consistent technological innovation to mould our payment processing workflows in a manner that best suits the real-life use cases of our retail clients. The new cloud-based reconciliation technology will ensure that clients across hospitality and delivery sectors can benefit from our wirelessly portable POS terminals, without having to sacrifice the tremendous operational convenience of Innoviti's highly regarded back-end billing-payments reconciliation."

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 cheque, 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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