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Lyra Network Introduces NAC – GPRS SIM Solution for Last Mile Connectivity

Mumbai, 28 May 2019: In a bid to support Government of India’s ambitious digital village program and to end connectivity woes of the rural areas, Lyra Network India, country’s leader in online and offline payment solutions as well as known for secure transaction routing services globally, introduces unique NAC-GPRS SIM solution for uninterrupted & secure transaction.

The landmark initiative is set to boost digital transactions, especially in the rural sector where the connectivity has always been an issue. Lyra’s Network Access Control (NAC) is a highly secure and powerful server that provides a secure, quick and updated channel for digital transactions, it receives and transfers any transaction flow securely from any kind of POS terminal and connects it to any type of network (PSTN/GPRS/ADSL) with any existing transaction protocol and without any glitch in between.

Micro ATMs (handheld devices with capabilities of a regular ATM) have also been provided to eliminate the network issues in remote parts of the country. The solution has been astonishing business with its promising performance and is helping the nation inch closer towards its goal of ‘digital villages’.

“Lyra’s last mile solution enables a real-time connection to the handheld devices. The solution has been transformational, especially for areas that do not enjoy good network coverage due to lack of infrastructure. Lyra is proud to have delivered on the promise of providing the rural areas with the secured technology for successful payments” said Mr. Rajesh Desai, Director & CEO, Lyra Network India.

Lyra’s solution not only ensures a seamless payment platform doing away with the possibility of failed transactions, the solution also ups the ante with its assurance of a secure transaction. In times of great vulnerability where fraudulent activities are on a skew, Lyra enhances security of transactions using the dual authentication solution to keep the sensitive information protected.

“We conduct necessary frequent audits for testing and maintaining security standards of our platform,” added Mr. Desai.

 

Lyra solutions also achieved a remarkable feat of 100 Lakh transactions a day with more than 10 Lakh POS terminals. Providing an easy to execute platform and offering a rich user experience, Lyra is the first company under Fintech banner to have been working successfully in India for more than 10 years.

“Lyra’s unique last mile connectivity solution is being used by several business correspondents to provide banking services using mobile handheld devices in the villages or rural sector at a pan India level. A total 10 million connections are being processed per day. Lyra’s contribution to digital villages in the e-payments domain has been quite expansive and extensive,” said Mr. Desai.

 

About Lyra Network India:

 

Started in 2007, Lyra Network India provides secured transaction routing services and e-payment gateway. The company offers its SIM solution services through multi-brand POS terminals offering GPRS, IP, PSTN and 2G / 3G / 4G networks. Lyra Network provides innovative payment management tools and a highly secure environment to deliver payments. Lyra Network manages the transaction flow of over 3 million POS terminals and 55,000 online shops. Lyra provides services to major banks, financial institutions, airlines, insurance companies and governments. Lyra network is globally known and operates in 4 continents.

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P2P Lending Startup PaisaDukan Enters into Travel-Loan Segment

Mumbai, 20 May 2019: Regulated Peer-to-Peer (P2P) lending sector in India is a year-old industry now; however, it has yet not explored its true potential as a supplement to other emerging industries. Travel industry has registered growth of multiple folds in past few years. With the rise of digital lending, Travel-Loan segment is emerging as one of the fastest growing sector across the world. India’s emerging NBFC-P2P startup PaisaDukan is entering into travel loan segment to extend its support towards digital lending for travel packages by partnering with various travel aggregators. Company sees Travel-Loan as an Emerging Segment for P2P Lending Industry.

 

Inclination towards personal finance for the purpose of travel is increasing and it accounts a significant size in the lending industry. International travel, frequent weekend getaways and last moment holiday plans have become a trend now. Digital lending has worked as enabler for these trends due to quick & paperless borrowing. Lending amount for travelling purpose generally ranges from Rs. 25,000 to Rs. 5,00,000 for varied destinations.

 

“We are in talks with travel aggregators to partner with them. We intend to ensure quick and easy financing to all possibilities within a travel plan, ranging from travel tickets to hotel booking as well as taxi booking. This will allow travelers to enhance their travelling experience by choosing a better airline, a better hotel or even extending their vacations.” said Mr. Rajiv Ranjan, Founder & CMD, PaisaDukan.

 

“In some cases, people take travel loan not because they don’t have enough savings but to ensure a better travel experience. We are looking for travel business partners to sell popular travel packages with a loan tenure from 3 months to 12 months. We have our own tool to check borrower’s credit worthiness for a quick loan disbursement because last minute holiday plan requires quick accessibility to financing option”, added Mr. Ranjan.

 

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PaisaDukan’s Successful Pilot in Rural India – Opening New Avenues for P2P Lending Industry

Mumbai, 02 May 2019: Lending has been one of the oldest professions in the world. Post the evolution of Fintech in India, Digital Lending has gained popularity in tier-1 cities but rural India remained hesitant in adopting the new digital ways. India resides in villages and rural populations are still hugely dependent on traditional financing systems & unorganized lending practices for their credit requirements. There are several factors that keep them away from digital financing tools.

 

India’s emerging Peer-to-Peer (P2P) lending platform PaisaDukan has recently opened its first rural operations office in Madhubani district of Bihar on pilot basis to evaluate the various possibilities in rural sectors for borrowers & lenders. The platform has received a significant response and results are paving the way to explore new avenues. Within first 1 month of its operation through its rural branch the company received 105 loan applications, disbursed INR 14,05,000 amount and processed 38 applications so far.

 

PaisaDukan has strived towards bringing the unregulated lending in the rural segment to the regulated scenario, promoting digital lending and financial inclusion. The company is also expecting ease of regulations for sector growth & business expansion.

 

“From the day of inception, PaisaDukan is working towards financial inclusion. Presence of an office in rural hinterland will not only enable last mile credit facility in India to cater the under-served through Peer-to-Peer (P2P) lending but will also provide an attractive investment avenue for investors on the platform”, said Mr. Rajiv Ranjan, Founder & CMD PaisaDukan.

 

“For generations, people in villages have been borrowing at exorbitantly higher interest rates. Success of P2P lending will be a game changer owing to deep research done, surveys conducted and response received from such areas. We are committed to establish an alternate banking system in rural areas for all credit needs.”

 

“Lastly, NBFC-P2P in India has started gaining trust gradually and in coming years it would revolutionize the whole financial system through a greater financial inclusion than any other sector” added Mr. Ranjan.