Money & Banking

Lyra Network launches payment solution

Our Bureau Mumbai | Updated on January 15, 2020 Published on January 15, 2020

Fintech company Lyra Network India has come up with ‘Payment SWITCH’, a solution to facilitate real-time payment processing.

Lyra Network assists in communication between various providers and performs payment, settlement process for both online and offline transactions.

Lyra Payment SWITCH is a rule-based authorization and switching solution which dynamically routes payment transactions between multiple acquirers and Payment Service Providers, according to a company statement. The technology is compliant with RBI’s regulation on storage of sensitive card information, the company said.

Rajesh Desai, CEO & Director, Lyra Network India, said, "Digital payments are no longer limited to credit and debit cards. In view of the expanding horizons of digital payments, we launched Payment SWITCH to ensure that payment transactions between different payment providers would be quick and easy.

Lyra’s Payment SWITCH is PCI-DSS 3.2 compliant and certified with card schemes like VISA, MASTERCARD and NPCI.

Published on January 15, 2020
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