LYRA joining India for Digital India – Tech

Business Wire India

COVID19 is becoming the main reason for the emergence of several innovative payment models and providing opportunities for businesses to accept digital payments. One such opportunity presents itself as last-mile connectivity. Digital payments will undoubtedly have a better and larger impact on the ecosystem with last-mile connectivity. To include areas and customers outlined in financial inclusion, a number of developments are made in payment infrastructure and online payment models. And the key to driving the digital payment ecosystem to make the ultimate payment is to create a healthy and highly secure environment for online payment delivery. While many applications and solutions exist to handle digital transactions, they become useless due to lack of network and connectivity, making it difficult to enable last-mile users under the digital platform.

LYRA is on a mission to solve last-mile connectivity problems and enable the delivery of civic services, banking, and government services to each part of the country.

LYRA Connect:

LYRA has introduced the ‘LYRA Connect’ solution, a connectivity platform to connect rural India using multiple technologies both wired and wireless. for example,

  • Broadband managed services are available for Bharat Broadband Network Limited, BSNL, local internet service providers like Hathaway, DEN, GTPL, D-VOIS, etc.
  • LYRA provides M2M SIM-based connectivity in partnership with telecoms like BSNL, JIO, Airtel, Vodafone and supports all types of GSM technologies like 2G, 3G, 4G.
  • LYRA as a managed service provider for last-mile connectivity for POS, small offices, bank branches, micro-ATMs, financial inclusion programs, ATM machines, ultra-small bank branches, smart electricity meters, payment POS machines, PDS POS machines Serves in AEPS POS Machines, POS Machines for Petroleum Companies, POS Machines for Transit etc.

“LYRA acts as a managed service provider, KRA for LRA to ensure that connectivity is available at any time on a particular device or location. Our mantra is low cost, low space, secure, multi-connection, multi technology, 100% availability, ”said Mr. Mannoj Verma – Product Head at Lyra Networks Pvt. Limited

Secure and stable connectivity is the most important component for delivering digital financial services in rural India. Today most companies like fintech, banks, government are facing challenges to deliver services, products due to the unavailability of secure last-mile connectivity beyond metros. The government and M2M service providers and digital payment service providers are playing a key role in crossing the last mile bridge and enabling digital financial services.

The digital payment space is already there and is constantly coming up with new and innovative ways to handle transactions digitally. It is essential that these solutions reach rural India, as for the first time users can play an important role in increasing the volume of digital transactions. With marketing and advertising campaigns, it is necessary to analyze the behavior of merchant and customer and find the appropriate hook for them so that they can adapt to digital payments and reclaim their ‘traditional’ mindset.

During the lockdown period, the Government of India disbursed cash to the people of India, LYRA’s last-mile connectivity played an important role here. During the lockdown period, LYRA services were fully available and helped the people of our country make digital payments. Digital payment technology infrastructure has helped the government and the people of our country to transfer money and keep businesses and the economy running in this epidemic.

From LYRA’s point of view, the major step to deploy a connectivity solution is a feasibility study of the location. The LYRA platform makes it possible to access devices and work on POS using LYRA Static IP.

The LYRA Connect platform provides a real-time online dashboard to monitor ongoing connectivity and traffic flow. Along with color signals, LYRA portal has real-time tagging of SIM ID, device ID, location etc. It describes the state of device / location connectivity in real time and the time it takes to process a transaction / request.

Mr. Mannoj Verma – Head of Product at Lyra Network Pvt. Ltd. further stated, “LYRA has enabled 16,00,000 POS / locations on its platform using various technologies. LYRA has undertaken a number of turnkey projects such as rural POS connectivity for India Post, secure connectivity to process financial transactions for metro rail, POS connectivity for major banks, connectivity for bank branches, etc. LYRA is processing 10 billion connections per year. “

LYRA is playing an important role in enabling financial inclusion in the country. Many banking business correspondents are using the LYRA CONNECT solution to deliver banking and financial services to rural areas using mobile POS machines. Many banks have started ultra-small bank branches using POS machines and LYRA is helping these banks with managed connectivity in last-mile rural India and ensures that bank branches are fully functional. LYRA is also helping banks and ATMs deploy companies with low-cost connectivity solutions.

Connectivity is key to digital financial adoption in rural India and LYRA takes pride in working on many such projects. LYRA with its LYRA CONNECT and LYRA COLLECT solution is boosting both connectivity and digital transaction processing.

The content is by Business Wire India. Tech Media is not responsible for the content provided or any link related to this content. Tech Media is not responsible for the accuracy, timeliness or quality of content.

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