OPPO partners Innoviti on BEAM - a unique mission to help SMB mobile dealers earn extra margins on every EMI transaction
- Reaffirms both organizations commitment to help SMB ecosystem bounce-back from the hardships brought by the pandemic
BENGALURU, India, June 30, 2021 /PRNewswire/ --
- OPPO, the world's leading smart device brand and Innoviti Payment Solutions, India's largest provider of payment solutions to offline enterprise merchants, announced today that OPPO will be partnering with Innoviti on BEAM (Brand EMI Acceleration Mission). BEAM is a unique mission to help SMB mobile dealers earn extra margins on sale of branded products on zero-cost EMI using G.E.N.I.E, Innoviti's smart marketing platform. With this partnership, these margins can now be earned by SMBs on every OPPO branded product also.
- The lockdown of offline stores due to the COVID-19 pandemic has affected SMB businesses more than others. Sustained lockdown has led to consumers shifting to online purchases, accelerating the SMB mobile business decline. G.E.N.I.E, launched earlier this year by Innoviti, has been empowering SMB mobile dealers to pull back customers with the help of attractive cashbacks on 110+ banks, zero-cost EMIs schemes on 60+ branded and unbranded products, and BEAM, a tool to earn extra margins on sale of branded products.
- BEAM enables mainline mobile dealers to get sponsored by leading mobile brands on Innoviti's G.E.N.I.E Smart Marketing App. Under this partnership, the dealer who gets sponsored by OPPO can earn an extra 1% margin on every OPPO branded product they sell on EMI on G.E.N.I.E. This not only helps dealers earn extra margins, it also builds a stronger relationship between the dealer and the brand. BEAM also enables the dealers to earn an extra 0.5% margin on other mobile brands sold on zero-cost EMI.
- Innoviti uses payment technology in unconventional ways to turn payment transactions into customer acquisition and retention tools for merchants, bank, and brands. Innoviti's products bring these parties on to a common platform and helps 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.
Quotes:
"Mainline mobile dealers provide the touch, feel and trust to consumers when they are selecting their electronic products. They educate them, guide them. However, the pandemic has affected them more than enterprise merchants and online.
Since its launch, G.E.N.I.E. has been empowering mainline mobile dealers to successfully win back the customers they lost to these channels through attractive features. We are excited about welcoming OPPO to our BEAM program. OPPO is a leading brand sold by SMBs, extra margins on every OPPO branded product will help these SMBs earn more to grow more. We hope this will provide the fuel the SMBs need to bounce-back and thrive in their businesses," - said Mr. Prasad Sonavane, Chief Revenue Office - Partnerships & Alliances.
"OPPO with its partnership with Innoviti G.E.N.I.E's BEAM programme will enable OPPOs retail family earn extra margin on each OPPO phone sold. Offline channel has always been focus area for OPPO and this partnership with Innoviti is our effort to support our Dealer teams during these unpredictable times and enable them to come out of this situation strongly," said OPPO mobiles India Pvt Ltd.
About Innoviti Payment Solutions Pvt. Ltd., Bangalore, India
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 OPPO
OPPO is a leading global smart device brand. Since the launch of its first mobile phone - "Smiley Face" - in 2008, OPPO has been in relentless pursuit of the perfect synergy of aesthetic satisfaction and innovative technology. Today, OPPO provides a wide range of smart devices spearheaded by the Find and Reno series. Beyond devices, OPPO provides its users with the ColorOS operating system and internet services like OPPO Cloud and OPPO+. OPPO operates in more than 40 countries and regions, with 6 Research Institutes and 5 R&D Centers worldwide, as well as an International Design Center in London. More than 40,000 of OPPO's employees are dedicated to creating a better life for customers around the world. OPPO's Hyderabad R&D center is the largest research center outside of China and is playing a pivotal role in innovation across fields including software, imaging, and communication network. Aimed at elevating global 5G experience, the brand also launched its first overseas 5G innovation lab in Hyderabad. In line with its commitment to Make in India, OPPO has a manufacturing plant at Greater Noida, established in 2016. As per Canalys February 2021 report, OPPO India witnessed the highest annual growth rate in 2020 among the top 5 players, with annual growth of +23% y-o-y.
Media Contact :
Siddarth Raj
[email protected]
Marketing Communication
Innoviti Payment Solutions Pvt. Ltd.
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