We provide innovative payment management tools and a highly secure environment to deliver the payments worldwide, claims Rajesh Desai, CEO & Director, Lyra Network, in an interaction with Arpit Gupta of Elets News Network (ENN)
What kind of services does Lyra Network offer in India?
As a leader in the French online banking industry, Lyra Network has been securing data flow between merchants and banks since 2001. We are a company that offers technology services in the connectivity space. The entire gamut of sectors like banks, financial institutions, railways and transport are our customers. The way we offer solutions is highly secured, stable and robust. The best part is that our solutions are tested and proven in advance dynamic markets like Europe. In these sectors specifically, we try to replicate the same technology in India keeping in mind the local demand.
We are 10 years-old in the Indian market now and we have huge plans of expanding our presence in India. We are currently working with major banks in India who use our solutions to acquire financial transactions on our network. At present, our presence is in Mumbai and Bengaluru with very high-end infrastructure in both the places. We play a critical part in the payments technology domain in India and want to make it big.
Do you see ample opportunities for technology companies in the BFSI sector?
Opportunities in the Indian market are huge because it is continuously evolving. What is new today is going to be old tomorrow. It’s a big opportunity for us to explore the industry. We are targeting all major banks, small banks and mid-sized banks to cash in on the opportunities. We want to leverage all the banking expertise we have in the European countries. We are addressing Tier I, Tier II, Tier III and all remote areas because we play a big role in financial inclusion, along with banks. We want to leverage on our strengths and the government’s vision using our technology as a key enabler.
What kind of measures you take to ensure safety of your solutions?
We are a PCI DSS company which stands for Payment Card Industry Data Security Standard which deals with debit, credit, prepaid, e-purse, ATM, and POS cards and associated businesses. We get a lot of security audits and require multiple security certifications in India and globally also. We ensure that the entire infrastructure is completely secured and stable. We also ensure that the entire solution and services which our customers are using is completely protected.
Our company operates in four continents which makes us a global player. We are aiming at expanding our business in India on a large scale. We offer services that were developed and implemented to secure and manage your payments and data.
Kindly elaborate your areas of expertise.
Our areas of expertise include proximity payments, e-commerce, connected objects and e-invoicing. Other key services are mentioned below.
Lyra Network has established itself as a trusted brand among its customers for the quality of its services in securing and managing electronic payment transactions. The company has a unique online portal for customers with tools adapted to the field constraints and to the complex management of POS facilities. Our expertise expands to the whole range of technologies related to the development transactions on varied POS terminals.
Because of growing demands from consumers, companies have introduced new distribution channels. Payment methods follow this transformation by means of e-commerce and mobile devices. In order to cater to the demands of customers and the market, the company has developed its own online payment platform and a supporting proximity payment service (mPOS) under the PayZen brand. The aim was to provide a cross-channel solution to facilitate payment management depending on the sales channel.
We have a rich experience of around 10 years in the dynamic Indian market and have huge plans of expanding our presence in India
Lyra Network facilitates and optimises payment management by offering customers payment options via online direct debit with online mandate signature, transfer. Company’s e-invoicing service is designed to suit professionals as well as individual debtors and increases the percentage of full payments while bringing down delays.
Lyra Network mediates the e-invoicing process to secure the transmission of the message and the resulting transaction. The firm is an essential link between creditor and the bank offering the reconciliation between the payment request and the payment.
Lyra Network provides a comprehensive routing solution for GPRS mobile network with a simple and quick installation. In addition to a maximum level of security, customers get access to a web management and monitoring interface giving access to both administrative and technical details of all their SIM cards irrespective of the operators.