– New MPI will help Prevent Credit Card Frauds, encourage Digital India
– Company successfully completes a decade of innovation and success in India
Mumbai, 06 August 2018: Lyra Network, a FinTech venture headquartered in France and one of the finest networks in India today announced to introduce the latest version of Lyra merchant plug-in (MPI) to boost Digital India campaign. This new MPI platform will help e-commerce merchants preventing credit card frauds.
Lyra Network offers technology services in the entire gamut of sectors like banks, e-merchants, financial institutions, railways, and transport. Lyra Network provides innovative payment management tools and a highly secure environment to deliver the payments worldwide. It provides connectivity to nearly six lakhs POS devices across the country.
The company has successfully completed 10 years in India and establishing itself as a leader in securing and managing payments in India. Lyra was the very first venture under Fintech industry banner in India to introduce secure connections with intelligent platform for Point of Sales (POS) terminals with 2G / 3G / 4G and PSTN technology which proved to be a major disruptor in the use of POS in India.
The company is already working with large e-commerce merchants in the country to achieve higher success rate for them. It has developed platform that operates on its own MPI to facilitate 3D-Secure verifications to prevent credit card frauds.
Expressing delight on the milestone, Mr. Rajesh Desai, CEO & Director of Lyra Network India said, “India has always been a crucial market for us and in the last ten years, we have come a long way in digitizing the business transactions. Opportunities in the Indian market are huge because it is continuously evolving. With the Digital India movement initiated by Honorable Prime Minister Shri Narendra Modi going full-throttle, we have been witnessing a surge in online transactions. Our team is relentlessly working with the aim to ensure a smooth transition to digital payments by availing our clients, a secure transaction with no failures.”
Lyra currently enjoys major market share due to risk management tools, and strong hold over both mobile and electronic payments. Recently Business France recognized Lyra Network amongst the 14 French companies to have had excellent success. Since the company’s establishment in India, Lyra Network has accompanied leading Indian banks as a crusader in driving digital payments in India. The company has been facilitating the cashless economy trend triggered by the Demonetization drive.
About Lyra:
Lyra Network, founded by Alain Lacour in January 2001 in Toulouse, France, provides secured transaction routing services and e-payment gateway. The company, headquartered in Labège, France, offers its services through multi-brand POS terminals through GPRS, IP, and 2G / 3G / 4G networks. The company, which operates in four continents, serves banks, loyalty experts, and brands. Lyra Network provides innovative payment management tools and a highly secure environment to deliver payments worldwide. Lyra Network manages the transaction flow of over 3 million POS terminals and 55,000 online shops. Lyra has been expanding its arms in South Asian countries like Nepal, Bhutan, Sri Lanka.