Beginning of Lyra’s Journey:
Lyra Network has been securing data flow between merchants and banks successfully ever since the year 2007 in India. Ever since then, Lyra has been bringing an innovative spirit and new technologies in the Indian market. The passion and determination to succeed has helped Lyra overcome all the obstacles that it encountered in the beginning and kept pacing up. Gradually, with all the enthusiasm, company progressed towards flamboyant success. Nevertheless, several obstacles kept rolling but Lyra continued to grow past each of them.
From shared corner office space to Multiple dedicated offices:
Lyra scooted off on its journey toward success and from being situated in a shared corner office, it has grown into multiple dedicated offices now. Today, it is the trusted partner for all types of digital payments and is growing constantly at a steady pace. The products – Lyra Connect and Lyra Collect have been recognized as the big wheels in the payment processing industry for banks and brands.
The innovative payment gateway provides an “all-in-one solution” for customers. Lyra has been engaging successfully with major banks, merchants, and government projects. Also having tie-ups with major telco partners across the country, Lyra Payment gateway has been established successfully and it caters to multiple verticals on a pan India basis. This way Lyra kept pacing up to grab every goal with time. This has helped Lyra reach one huge goal of making maximum loyal clients throughout and a wodnerful reputation in the industry.
Lyra’s strength has been its NAC solution, which is the trusted channel through which the transactions flow through securely whenever a customer of a business partner makes payments via POS machine. Moreover, Lyra has its high-end infrastructure in Bangalore and Mumbai offices.
Today, Lyra Network is proud to be offering technology services in the connectivity space and entire gamut of sectors namely banks, financial institutions, government, online businesses, startups and transport. Additionally, the services Lyra offers high security, stability, and robustness for helping the customers carry out smooth transactions. Having been tested and proven in advanced dynamic markets like Europe, Lyra has secured the repute of being the best in the industry. In the same sectors, Lyra has replicated the technology for Indian market making them apt with the local impression. Lyra has specialized in the brick and mortar service over a period and is supportive of Omni-channel businesses.
Having the presence in the Indian market since a decade, Lyra plans to expand the reach of its high quality services across the nation. Currently working with major banks, Lyra is providing solutions with Lyra IP POS, Lyra SIM solutions, Lyra Payment Gateway, Merchant Plug-In (MPI) & 3-D secure, White Label Payment Gateway Solution, E-POS and Lyra Payment SWITCH. Lyra has its offices with high-end infrastructure present in Mumbai and Bengaluru. Having a critical role to play in the payments technology domain, Lyra is working rapidly to make its reach even vaster.
Lyra Network India was initiated with the one-man army and has gradually developed into a team of handpicked professionals and each Individual in the team has been selected after a careful evaluation followed by the set procedure. The company’s forte has been excellence in technology and that is what they pertain to at every step, as well as in every area.
Lyra has over 10 billion successful payments till date and over 2.5 million POS terminals and sees Indian market strategically with huge potential. In 2018, Lyra was the title sponsor of Digital Money participation 2.0, the largest annual gathering of fintech and digital payment players in India and was also recognised and awarded by a leading Bank as one of the fast growing businesses in the region.
Mr. Rajesh Desai’s (CEO, Lyra India) main motto in life has been to become better than yesterday and take care of every day’s hurdles gracefully. Hence, initial struggles, as well as the ones that arose along with the company’s growth only increased his tenacity to climb above each one of them.
Lyra continued to maintain pace with the changing time under the able supervision of its authorities and continued investing in the new advancements/technology with time. Going further, Lyra has also kept pace with the expectations of the customers throughout, since with the evolving technology customers’ expectations are also evolving simultaneously. Remaining at par with the expectations of the clients/customers is company’s one of the highest concerns. Not only this, Lyra makes sure that the growing costs with the growth of the company are utilised to the maximum. It manages to utilize the costs incurring every now and then and has every time progressed to reach full potential of the investment. The stack of challenges do not end here since with every advancement there is something new that adds to the pile anytime.
Its huge customer base comprises of banks, financial institutions, airlines, insurance companies, government sector, microfinance institutions, and others. The services are being used by more than 25 banks in the country and the company is also working with some of the large e-commerce merchants to help them grow successfully.
Excellence provided by Lyra (Its Achievements):
Excellence in providing quality services has been the key to Lyra Network India’s success. Its strength lies in various factors and one of them is the kind of robustness the company renders in the area of making payments. This was highly evident during the ‘demonetization’ phase when a sudden need for online transactions spread across and made it highly challenging for the industry. During this phase, a spur in the volumes of transactions led to the crashing of various platforms overnight. However, despite high demands for online transactions, Lyra’s system kept providing continuous support to the public without fail, all thanks to its technological edge. The ‘Digital India’ initiative gave a further boost to cashless transactions and as a result, we have witnessed a shift from the traditional way of making payments to technology-induced payment platforms. But this shift has also brought with itself problems like cybersecurity breaches and data privacy issues.
Lyra with its innovative payment management tools and a secure structure to make payment has been able to address both the concerns efficiently. Lyra Network manages the flow of over 3 million POS terminals and 55,000 online shops and is currently spreading its reach in countries like Nepal, Bhutan, Sri Lanka, and so on. It also caters to the payment related requirements of the organizations. As mentioned already, their platform is well-equipped to ensure security in payment processing across a plethora of payment modes including credit and debit cards, net banking, and e-wallets.
Lyra network also employs regular internal and external audits and has the SSL certificate, PCI DSS Audit, and Visa certificate, which ensures a secure connection and encryption of the cardholder’s credit card information.