Lyra Network India enters The SoundBox Market

Mumbai (Maharashtra) [India], May 22 (ANI/PNN): The ongoing UPI (Unified Payments Interface) revolution has transformed the way India transacts, making it one of the most preferred modes of payment, boosting India’s Digital Payments landscape.

Digital Payments are gaining prominence over traditional financial systems, and the mass adoption can be credited to the proliferation of smartphones and good internet connectivity.

With UPI making digital payments easy for people, incidents of failed payments / non-payments and fraudulent activities on busy payment counters are also observed. To overcome such incidents and to build customers’ confidence in digital payments, India’s leading PayTech Solution provider, Lyra Network India, has launched its very own SoundBox Solution – a portable payment alert companion.

The portable speaker provides instant notifications and payment alerts through a voice alert and immediately notifies merchants about the payment as soon as it is credited to their account. Since merchants are looking for a platform that is convenient, trusted, and at the same time offers a rewarding experience for the customers, Lyra’s SoundBox is up and ready to offer faster and more accurate broadcasting of each payment collection.

Lyra India is one of India’s established leaders in securing eCommerce and Proximity Payments and is trusted by major banks, merchants, FinTechs and the government. Lyra SoundBox is a compact and portable payment alert companion for merchants, banks, fintechs, etc.

With customized alerts, a seamless back-office interface and made-in-India technology, Lyra’s Soundbox enables the ecosystem, plug and play with TSP & Acquirer platform to accept QR payments. Lyra’s SoundBox is equipped with a loud and clear sound output of about 110dB and offers more than 24-hour battery backup and effortless installation.

“Our main goal is to offer a solution that will deliver frictionless secure transaction routes with fewer hops and uninterrupted services. Keeping this in mind, we have launched Lyra’s ‘end-to-end’ SoundBox solution”, said Manoj Varma, Head – Payments, Lyra Network India. “‘End-to-end’ being the keyword here, we are offering everything starting with sound box devices, QR codes, QR Panel, MQTT Server, Payment gateway, TMS and solution sim cards.

The solution is also backed with Lyra’s well-renowned SIM solution, and the entire connectivity setup, along with payment collection and sound notification, is processed by Lyra.” he added.

An end-to-end package, Lyra’s SoundBox is compatible with WiFi and SIM connectivity and supports multiple languages. It offers secured signal stability, allowing for faster and more accurate broadcasting of each payment collection. As the solution is end-to-end, it does not require any third-party application or add-on, reducing the number of hops in the process resulting in making it more secure. As a result, this can decrease fraudulent transactions.

“We are keen on developing robust solutions and serve the merchants in the best way possible. The SoundBox is not only a payment alert device but is also a great payment management tool. Lyra offers a simplified and easy back office interface with simple integration and dedicated APIs. Our solution has an infrastructure that enables the selection of the Telecom operator based on the network strength.” said Manoj Varma.

Digital payments are effortless to use, yet the rural population of India is hesitant to adopt them. Be it the lack of proper knowledge, lack of trust, or any other reason, rural India has seen digital payments with a rather skeptical eye. SoundBox, however, can be a game-changer in this situation. The SoundBox gives immediate payment notifications in the form of voice alerts and is available in multiple local languages, resulting in increased trust in digital payments.

“After the launch of the end-to-end POS solution, this time we have entered India’s SoundBox market. We hope that SoundBox can simplify payments for merchants pan India and helps with greater financial inclusion.

Lyra’s SoundBox has already been on test-run with some eminent clients. With the motivation instilled with this launch, Lyra India is resolute in collaborating with fintechs, banks, government, and merchants as an active connectivity partner, develop, and offer paytech solutions for banks and fintechs.

The device will create trust towards seamless digital payments that will help to connect more people with the digital economy. Lyra is looking forward to developing more fully make-in-India, end-to-end packages like SoundBox and POS Solution,” Manoj Varma added.

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