SAVEIt Marks 10 Years of Startup India with Patent-Filed Breakthrough in Offline Gift Card Redemption
- ByStartupStory | January 17, 2026
As India celebrates a decade of the Startup India programme, the country’s innovation ecosystem reflects on ten years of entrepreneurship-led problem solving, regulatory evolution, and technology-driven economic growth. Over the past decade, Startup India has enabled founders to build scalable, compliant, and impact-led solutions across sectors, reshaping how India creates and consumes value.
Marking this milestone, SAVEIt, a Bharat-first fintech startup, has announced the successful implementation of its patent-filed technology that addresses one of the most persistent challenges in the prepaid payments ecosystem: seamless offline gift card redemption.
Solving a Long-Standing Industry Gap
While digital gift cards and prepaid instruments have witnessed widespread adoption, their offline acceptance has remained fragmented and operationally complex. Consumers frequently face issues such as partial redemption restrictions, manual verification at stores, and inconsistent acceptance across physical merchant outlets.
These challenges have resulted in:
- Underutilisation of issued prepaid value
- Lower consumer satisfaction
- Reduced ROI for brands and gifting campaigns
- Missed revenue opportunities for merchants
SAVEIt’s Patent-Filed Innovation
To address this systemic issue, SAVEIt has developed and implemented a patent-filed solution
titled: “Unified Lookup Method with Automatic Split Transaction of Closed System Prepaid Payment Instruments.”
The technology enables:
- Real-time identification and validation of eligible prepaid instruments at offline merchant locations
- Automatic transaction splitting, allowing prepaid value to be seamlessly applied while the remaining balance is settled through another payment mode
- Fully compliant, frictionless offline redemption, eliminating manual intervention
With this innovation, offline gift card redemption becomes as seamless as a standard digital payment, bringing parity between online and offline prepaid usage.
Impact Across the Ecosystem
The implementation delivers tangible benefits across stakeholders:
- Consumers experience effortless redemption and better utilisation of prepaid value
- Merchants benefit from higher prepaid consumption and assured incremental sales
- Brands see reduced breakage and improved campaign efficiency
- The economy benefits from improved circulation of already-issued digital value
The solution strongly aligns with Startup India’s mission of encouraging problem-first, scalable, and India-centric innovation.
Leadership Perspective
Commenting on the milestone, Vindhyawasini Kumar Srivastava, Founder & CEO, SAVEIt, said:
“Startup India has played a critical role in enabling startups to focus on solving real problems. Our patent-filed technology unlocks the true potential of digital gifting by making offline redemption simple, seamless, and scalable. This implementation marks a significant step toward better utilisation of prepaid value in India.”
Gurinder Singh, Co-Founder & CTO, SAVEIt, added:
“From a technology standpoint, our goal was to make offline gift card redemption as simple as a regular digital payment. The Unified Lookup and Automatic Split Transaction architecture achieves this while maintaining the highest standards of security, scalability, and regulatory compliance.”
Nitesh Kumar Srivastava, Co-Founder & CFO, SAVEIt, said:
“A significant portion of issued prepaid value remains unused due to operational friction. By enabling unified lookup and automatic split transactions, SAVEIt ensures that digital value translates into real economic activity, strongly aligned with the government’s vision of efficient, technology-led financial ecosystems.”
Looking Ahead
As Startup India enters its second decade, SAVEIt remains committed to building patent-driven, compliant fintech infrastructure that strengthens India’s prepaid, gifting, and digital commerce ecosystem. The company continues to focus on Bharat-first innovation that converts unused digital value into measurable economic impact.
About SAVEIt
SAVEIt is a Bharat-first fintech startup focused on empowering digital gifting and prepaid payments through technology-led solutions. The company is incubated at Atal Incubation Centre – BIMTECH, Greater Noida, and has received ecosystem recognition for its innovation in prepaid and digital value utilisation.
SAVEIt’s innovation has been selected under the Ratan Tata Innovation Hub by RBI Fintech, recognising its national relevance in advancing India’s prepaid and digital payments ecosystem. The startup has also received support under the UP Startup in UP programme by UPELC, with a seed grant approved by the Government of Uttar Pradesh.
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