Lyra's Last Mile Connectivity Solution Expands Financial Access to Rural India
MUMBAI, India, Oct. 21, 2021 /PRNewswire/ -- Over the past few years, FinTech has evolved beyond developing, employing, and embedding new technologies for banking and financial services. Today, FinTech has undertaken more strategic and focused roles and one of them is to contribute to financial inclusion by serving the segments that are not core targets for traditional financial models. Government's initiatives like The Prime Minister Jan Dhan Yojana, Jan Dhan, Aadhaar and Mobile trinity, and many players emerging in the digital payment solution space have directed FinTech innovations towards inclusive growth. Rural India has made a significant impact on the economic progress of the country as financial inclusion in India has seen extensive improvement in the past few years and Lyra is proud to be playing a significant role in the scenario.
Lyra's Last Mile connectivity solution was deployed in order to involve underserved areas and customers in financial inclusion and offer them a healthy and highly secure environment to deliver online payments.
Lyra offers a connectivity platform, 'Lyra Connect' that uses both wired and wireless technologies. Lyra manages services for broadband and works as a managed service provider for PoS and ATMs. With the Static IP feature, Lyra enables bi-directional communication needed for terminal control and remote access. This feature helps to resolve field issues remotely. Lyra Portal isolates software, hardware, network issues and segregates sims as per locations. Lyra's highly secure and powerful server NAC offers a secure, quick, and updated channel for digital transactions and transfers any transaction flow securely from any kind of PoS terminal, and connects it to any type of network with any existing transaction protocol and without any glitch in btween. It is important to dispatch the correct telco SIM for the devices. but not all telcos work in all locations, Lyra did a feasibility study of the locations using latitude and longitude before SIM allocation and dispatch for each location.
Lyra's Last Mile Connectivity Solution's highlights:
One of the key issues faced by rural India is the lack of connectivity for using digital solutions like mobile-based transactions, PoS devices, micro ATMs, etc. It creates a digital divide and lack of network, bandwidth, and reach of technology discourages this further. With the Last Mile solution, Lyra enables real-time connection to the handheld devices for the segments that are not core targets for traditional financial models. Identifying 'connectivity' as a critical enabler, Lyra will continue to work on many rural projects, powering connectivity and secure digital payment processing in rural India.
About Lyra Network India:
Started in 2007, in Mumbai, India, Lyra Network India is a leader in securing e-commerce and proximity payments. Actively working in the sectors like Payment Gateway Services, Banking Solutions, White Label Solutions, Lyra offers highly secure payment acceptance solutions like Lyra EPOS, SIM Solution, PoS Routing Solution, Payment Switch, WhatsApp Payment Solution, and many more add-on innovative services in the payment processing field. By offering a stable, robust one-stop-shop for banks, customers, e-commerce platforms, and all types of businesses, Lyra's unique technology reduces transaction time and enables cost saving for its users, ensuring complete data security to acquirers and acts as a single gateway to handle multiple connections and multiple protocols.
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