Fintech PR
Lyra contributing to India’s financial inclusion through it’s infrastructure
The current crises have set new normal for everyone, like, social distancing, work from home, etc. but it also has set up the use of best practices and fueled the emergence of innovative technologies along with the rise in requirements, standards, and demands from customers. And Digital payment field is not an exception.
On the current COVID-19 premises, Lyra as a title partner for the Digital Money 2020 actively participated in a two-day event that took place virtually on the 1st and 2nd of December. This event was organized by PCI and IAMAI. In the keynote, Christophe Mariette, Chairman, India, and Global Commercial Director, Lyra stated, “Lyra has already acquired the license for Payments Institution in France and has established itself as a major player in payment for banks and other financial and non-financial institutions. Lyra is planning to replicate the successful global solutions in India with features in accordance with regulatory requirements in India.”
“Lyra is well established in countries like, India, Europe and Latin America. We took this fact as an opportunity to bring easy solution for Payment to these countries. Digital payment in particular will play a vital role in supporting economic recovery. The government and fintech industries are playing their role heavily to make India a cashless economy and with the same goal in the mind, Lyra has been in the digital space providing transaction routing and payment processing solutions for more than a decade and will continue to do so.” He added during his keynote for Digital Money 2020.
Despite the COVID-19, India is said to contribute 2.2% to the world’s digital payments market by 2023. In March 2020, India was accounted for the fintech adoption rate of 87%. With a high level of banking penetration and widespread of mobile usage the Indian fintech space is supposed to contribute to 2.2% of the world’s digital payment market by 2023.
Today, in India, Lyra Network is proud to be playing a significant role in enabling financial inclusion in the country, offering technology services in the connectivity space and to a wide range of sectors like e-commerce, education, retail, BFSI, travel, and tourism, etc.
This year marks Lyra’s 13th year providing routing and payment solutions in India. Alongside the introduction of a secure payment processing platform for helping customers with online transactions, Lyra is also developing and providing value-added services for daily transaction and equipment management.
For any digital payment solution provider, infrastructure is of utmost importance. The robustness of Lyra’s high-end infrastructure was proved when demonetization was announced and once again in the lockdown. Back in 2016, after the announcement of demonetization, all the card networks started failing, but Lyra was up and running fast all the time without collapsing. In the same way, during the lockdown period, all of Lyra’s services were fully available for people to move funds and keep businesses and the economy going on. Any and every transaction that enters the infrastructure goes first to Mumbai center and then to Bangalore. Both the centers are capable of handling a disaster situation and are activated all the time. So, in any case, if something goes wrong at any of the centers, the other center acts as a backup.
“Backend infrastructure and the data centers at Mumbai and Bangalore is Lyra’s key strength. We want the transactions not only fast but also secure”, Said Christophe.
One of the key strengths of Lyra is NAC, a highly secure and powerful server that provides seamless communication to the merchants’ banks without any glitch. With the exclusive EFT/POS transaction gateway owned by Lyra, it is possible to receive and transfer any transaction flow securely from any kind of POS terminal and connects it to any type of network (PSTN/GPRS/ADSL) with any existing transaction protocol.
Lyra is playing a significant role in making India a cashless economy, by providing solutions like, Lyra’s Payment gateway, providing seamless and secure transaction flow with quick and robust technical support, Lyra EPOS, a mobile application that enables QR and link-based online payment acceptance, Lyra WhatsApp Payment Solution, simple to use payment collection solution that uses WhatsApp Messenger. Parallel to these offerings, Lyra also provides solutions like LUMA – inventory management solution, IP POS solution, to enable the bank to authenticate the card information with a dual authentication platform, Payment Switch, a robust and secure platform that allows higher success rate with faster processing time for online as well as offline transactions, white label solutions, Lyra Merchant Plug-in (MPI) to equip the merchant with the facility to authenticate the card issuer’s issuing bank.
With in-depth knowledge of market expectations, technical expertise, and the quality of customer care, Lyra is determined to develop its own products and solutions rather than taking help from a third party to maintain secure and seamless data flow between merchants and banks and in the future, it will continue to do so.
“We have been providing excellent security and uninterrupted connectivity for every transaction, and we will continue to do so”, Christophe added
Lyra organizes an internal and external audit regularly and makes sure that all the compliances, policies, and processes are being followed. Currently, Lyra is SSL certified, EMV 3D2.0 secured and PCI DSS V 3.2.1 compliant service.
It is a known fact that, in India. More than 65% of the population resides in rural areas. And with apparent problems like connectivity, network issues, lack of awareness and knowledge, and other challenges, rural India is deprived of the adoption of digital payments.
Lyra’s contribution to onboard the unbanked and underbanked starts with LYRA’s unique last-mile connectivity solution. This solution is being used by many business correspondents to provide banking services using mobile handheld devices in the villages or rural sector pan India. This connectivity solution has enabled the NAC-GPRS solution to solve the problem of interrupted transactions in rural India. This solution has helped banks conduct transactions in such areas successfully.
In order to bring digital payments to rural India, Lyra has introduced a connectivity platform to connect rural India –Lyra Connect. This platform uses multiple technologies and manages services for broadband, provides, M2M sim based connectivity.
Many small offices, banks, micro ATMs, AEPS POS machines, payment POS machines, ultra-small bank branches, ATMs are relying on Lyra for last-mile connectivity solutions. Using mobile POS machines many banking business correspondents are using Lyra Connect to deliver banking and financial services in rural areas.
Today, Lyra has enabled 16,00,000 POS on its platform. With the successful accomplishment of many significant projects like rural POS connectivity for India Posts, secure connectivity to process financial transactions for metro rail, POS connectivity for major banks, connectivity for bank branches, Lyra is Processing 16 million connections per day, Lyra manages over 1,20,000 e-merchants and over 14,00,000 POS terminals.
“The digital landscape is indeed once again shifting and as a result of the impact of COVID-19, we will surely witness the new age technology as it enters the payment domain. In the coming future, I ensure you that Lyra will step up to even more innovative advancements along with customer-oriented services to keep pace with the demands of time, customers, and merchants”, said Christophe.
VILNIUS, Lithuania, Nov. 1, 2024 /PRNewswire/ — BingX, a global leading cryptocurrency exchange, is excited to announce the official launch of Legend of Arcadia‘s ARCA token on the BingX launchpool. This highly anticipated event brings a robust reward pool of 800,000 ARCA, inviting users to stake with USDT and BTC in a campaign that combines accessibility for new users with compelling earning potential for all.
Legend of Arcadia (LOA) is a card-based RPG game built on a vast story universe inspired by Kingdom Hearts. LOA is built with the latest technology for the modern gamer, powered by blockchain. This ARCA Launchpool campaign will run for a limited time and participants will have the chance to join three staking pools, one of which is an exclusive newcomer pool for USDT, featuring a capped staking limit of 2,000 USDT and offering 35% of the total reward pool. There is also an additional USDT pool and BTC pool, open to all users. To further amplify rewards, users can participate in an ARCA staking event, maximizing opportunities for participants during this limited-time campaign.
Vivien Lin, Chief Product Officer of BingX, highlighted this launch as an exciting addition to BingX’s expanding GameFi offerings. “The ARCA launch on BingX Launchpool introduces our community to an immersive GameFi experience, where blockchain rewards meet engaging gameplay,” Lin remarked. “The game showcases the type of high-value, innovative GameFi projects we would like to support. We are glad to see a new attempt for sustainable web3 gaming.”
BingX Launchpool offers a user-friendly design for a seamless staking experience, featuring flexible staking and withdrawal options that let users deposit or withdraw assets anytime during the campaign. Rewards are automatically calculated hourly and distributed directly to users’ accounts, with all assets returned upon the campaign’s end. This streamlined process makes staking with BingX Launchpool simple and efficient from start to finish.
BingX Launchpool’s introduction of the ARCA token serves as a bridge, connecting innovative project teams like Legend of Arcadia with a global user base eager for fresh opportunities in the GameFi space. By offering a platform that amplifies visibility and engagement, BingX empowers projects to reach new audiences while enabling users to participate in blockchain-driven experiences. This collaboration highlights BingX’s dedication to enriching its ecosystem, delivering added value to users, and supporting the ongoing evolution of Web3 gaming.
About BingX
Founded in 2018, BingX is a leading crypto exchange, serving over 10 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports.
For more information please visit: https://bingx.com/
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DUBLIN, Nov. 1, 2024 /PRNewswire/ — Aon plc (NYSE: AON), a leading global professional services firm, today announced the signing of a definitive agreement to acquire UK-based insurance broker Griffiths & Armour. Upon completion of the transaction, Griffiths & Armour will become wholly-owned by Aon UK Limited and is proposed to go to market as “Griffiths & Armour, an Aon company”.
The acquisition closely aligns with Aon’s strategy to further expand its presence in the UK and Ireland. The combination will provide a greater breadth of solutions for clients across both Aon and Griffiths & Armour with complementary strengths that create a platform for further growth in the UK, Ireland and beyond. Together, Aon and Griffiths & Armour share a strong cultural alignment through an unwavering focus on clients and colleagues.
“As we continue to go further, faster to help our clients navigate growing uncertainty and volatility, we are looking forward to welcoming Griffiths & Armour to Aon,” said Greg Case, CEO of Aon. “Our complementary capabilities and cultures will create unmatched client and colleague experiences across the UK and Ireland and contribute to our global 3×3 Plan to accelerate our Aon United strategy.”
Griffiths & Armour has established a market-leading presence from their base in the north of England as well as a strong national and international reputation. With around 200 employees, Griffiths & Armour are known for their specialist expertise in professional indemnity insurance and strength in general insurance broking. As part of the acquisition, Aon is committed to Griffiths & Armour’s Liverpool office at Princes Dock and its strong team in Liverpool, Manchester, Dublin and London.
Carl Evans, CEO of Professional Risks for Griffiths & Armour, commented; “Becoming part of the Aon family is the result of a meticulous search for a trusted partner with whom we can work, to ensure the future success of Griffiths & Armour and to enable us to enhance, grow and expand our unique client proposition. This proposition is founded on a culture that has been created and refined over the last 90 years, of which we are immensely proud.”
Matt Donnelly, CEO of General Insurance for Griffiths & Armour, added; “We have long-regarded Aon for its professionalism and client service excellence. In them we have found a partner who will not only help deliver continued growth, but also preserve and embrace the culture that we and our client community hold dear. We very much look forward to this next chapter.”
“Griffiths & Armour is a brilliant business and will bring quality, expertise and an exceptional platform for growth to our firm,” said Jane Kielty, UK CEO at Aon. “We’re very excited to work with the leadership team to deliver the fantastic results for clients and colleagues that we passionately believe will be created by joining together.”
Closing of the transaction is subject to customary conditions, including regulatory approvals, and is expected to occur in the first quarter of 2025. Aon and Griffiths & Armour will continue to operate independently until the closing date.
About Aon
Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise, and locally relevant solutions, our colleagues provide clients in over 120 countries with the clarity and confidence to make better risk and people decisions that protect and grow their businesses.
Follow Aon on LinkedIn, X, Facebook and Instagram. Stay up-to-date by visiting Aon’s newsroom and sign up for news alerts here.
About Griffiths & Armour
Griffiths & Armour are a consulting insurance broker providing clarity and protection for business leaders. We exist to make our clients’ worlds less complicated by minimising risk. We work across a range of sectors by combining deep market insight, long-term relationships, and end-to-end support to manage and minimise professional and business risk, as well as offering private client support to protect individuals’ most important personal assets.
Media Contacts
Aon
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Griffiths & Armour
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Fintech PR
Bybit Protects First-Time Copy Traders Against Potential Fiat Losses in Limited-Time Offer
DUBAI, UAE, Nov. 1, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has introduced new fiat protection for trading novices to counter potential market risks. First-time depositors may enroll to protect their investment in Bybit’s Fiat Loss Coverage Frenzy campaign this season.
From now to Dec. 1, 2024, Bybit is offering up to 100 USDT in Fiat Loss Coverage Vouchers (“the Voucher”) for as little as 100 USDT in first-time trading. Users making a first-time deposit and lured by the power of Copy Trading may sign up for the exclusive event for a confidence boost as well as potential capital protection.
The generous offer is available for eligible users only and the number of Vouchers is limited. Users may follow three simple steps to seize an opportunity to minimize their risk of asset devaluation:
- Deposit: Users making a first-time deposit of at least 100 USDT in any currency via Bybit P2P, Fiat Deposit or One-Click Buy
- Claim the Voucher: Access the “Claim” button at the Bybit Copy Trading page for up to 100 USDT in Fiat loss coverage
- Explore Copy Trading: Choose the first Master Trader wisely and execute the first copy trade in the amount of at least 100 USDT in either Smart Copy Mode or Advanced Copy Mode. Should the trade result in a loss, holders of the Voucher will be reimbursed up to the Voucher value.
Fiat and crypto solutions on Bybit come with copious benefits and rewards, including innovative mechanisms to enhance Bybit’s protection of users’ interests. The exchange is also trusted for its deep liquidity and tried-and-tested reliability, 24/7 customer support, and diversity of products and solutions.
“Investing comes with risks, and for retail investors starting to diversify into crypto, we’ve got their back. This campaign is a gesture of support and an invitation into the world of digital assets for new users, and Bybit serves to take away some of the stress for a better trading experience,” said Joan Han, Sales and Marketing Director at Bybit. “I hope it offers extra protection for new traders as they embark on their journey,” she added.
Visit Bybit Fiat and explore Bybit Copy Trade for more information, terms and conditions apply.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
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