Innoviti tries to do a Google Map in digital payments

Innoviti is a platform that helps retailers reduce failed transactions while keeping the cost down

Rajeev Agarwal likes to think of Innoviti, the fintech firm he founded in 2002, as the Google Maps for the retail payments industry. “In Google Maps, if you’re going from place A to place B, the map tells you there’s traffic here so take a different route. We started doing this with transactions by looking at the history of how they travelled through our network and then suggesting the best route,” says Agarwal.

Today, Innoviti processes one-fifth of all digital payments made at large retail stores, but it has morphed and changed many times in its 15 year history. In its