Lyra Network India Introduces New Merchant Plug-in (MPI) to Facilitate 3D-Secure Verification

Lyra Network, a FinTech venture headquartered in France and also has networks in India today announced to introduce the latest version of Lyra merchant plug-in (MPI) to boost the Digital India campaign. This new MPI platform will help e-commerce merchants preventing credit card frauds.

According to Lyra Network, they offer technology services in the entire gamut of sectors like banks, e-merchants, financial institutions, railways, and transport. Lyra Network also provides payment management tools and a secure environment to deliver the payments worldwide. It provides connectivity to nearly six lakhs POS devices across the country.  Lyra was the very first venture under Fintech industry banner in India to introduce secure connections with an 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. It has developed a 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.

In the public press release, the company mentioned that the Lyra currently enjoys a major market share due to risk management tools, and because of good hold over both mobile and electronic payments. Since the company’s establishment in India, Lyra Network has accompanied leading Indian banks in driving digital payments in India.