April 12: Lyra Network India, a Mumbai based paytech service provider has launched India's first-of-its-kind end-to-end solution for POS payment processing. The POS software solution was launched at the currently held Lyra TownHall on 8th March 2022. Lyra is already occupying a major market share with its SIM Solutions, combining SIM solution with innovative product payment switch and recently launched POS processing solution; this end to end solution offers a secured platform for POS system. 

POS solution acts as a secure link between physical POS terminal and issuer bank. This solution can be used in Micro ATM services as well as in Android POS solutions. Lyra, having its own tech infra and all other components reduces the number of hops during transactions resulting in a more secure payment transfer. In addition to multiple card schemes support, the solution also offers features like clearing, settlement, and RKI the solution also offers fraud and risk management and is in compliance with PCI DSS standards and all other government policies. 

A seamless and secure payment acceptance package for merchants

"The current market requires a technology that enables seamless integration and maintains compliance scope. This technology that will act as a middleware between POS and card network should enable any 3rd party POS Systems with a broad range of direct payment processing interfaces that are certified by the payment networks and maintained by PSP among other features.", said Mr Rajesh Desai, CEO & MD, Lyra Network India, "We were able to put this idea into action thanks to our expert knowledge and understanding of POS-PSP integration. With this end to end solution, Lyra will carry the transaction seamlessly right from the point where the card gets swiped or tapped", he added.

Lyra offers multi-operator SIM cards optimized for POS terminals as per the business requirements. With a private and end-to-end secure APN, Lyra's gateway facilitates complete management of the POS fleet. Adding to its benefits, the Point of Sales SIM Solution offers merchants excellent security and uninterrupted connectivity for every transaction. This solution is specially developed to provide connectivity with various types of network connections namely, GPRS, PSTN, IP, Secured SWITCH software, 3G & 4G, LAN, and Wi-Fi. Lyra's Payment Switch saves merchants from connectivity and security issues by dynamically routing payment transactions between the acquirer and payment service provider revamping the transaction success rate.

“We want our solutions to be compatible with merchant requirements and scalable for each and every merchant setup in the most possible efficient way. This is an end-to-end solution, ‘end-to-end’ being the keyword, once the transaction is initiated; Lyra will take forward the transaction process securely and smoothly without any glitches or any third party involvement. This is what makes the solution frictionless and more secure”, said Manoj Varma, Payments Head, Lyra Network India, “The solution will work on the core principles of the three components, secure CP transaction processing offered by POS Solution, Secure connectivity offered by SIM Solution and efficient transaction proficiency offered by the Switch”, he added further.

At present, Lyra is actively working in the sectors like Payment Gateway Services, Banking Solutions, White Label Solutions, SIM Solution, POS Routing Solution, Payment Switch, WhatsApp Payment Solution and many more add-on innovative services in the payment processing field and paytech solutions for banks and fintechs.

With the combination of Lyra SIM solution, Lyra Switch, and Lyra POS solution, Lyra is ready to offer a complete and secure end to end payment acceptance package for merchants. This package will be robust and stand-alone with no third party involved allowing a higher success rate and faster processing time for transactions and end-to-end secure connectivity for transaction processing and management. 

Website - https://www.lyra.com/in/ LinkedIn - https://www.linkedin.com/showcase/lyra-india

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