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.
STOCKHOLM, Jan. 9, 2025 /PRNewswire/ — EQT AB’s Year-end Report 2024 will be published on Thursday 23 January 2025 at approximately 07:00 CET. EQT will host a conference call at 08:30 CET to present the report, followed by a Q&A session.
The presentation and a video link for the webcast will be available here from the time of the publication of the Year-end Report.
To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.
The webcast can be followed live here and a recording will be available afterwards.
Information on EQT AB’s financial reporting
The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.
The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.
Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]
Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334
This information was brought to you by Cision http://news.cision.com.
https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-year-end-report-2024,c4089214
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View original content:https://www.prnewswire.co.uk/news-releases/invitation-to-presentation-of-eqt-abs-year-end-report-2024-302346760.html
Fintech PR
Nium Launches Diners Club International® Card, Expanding B2B Payments Offering for Travel Industry
Nium now provides card solutions across the four major schemes, delivering flexibility at scale for its travel customers and partners around the world
LONDON, Jan. 9, 2025 /PRNewswire/ — Nium, the leading global infrastructure for real-time cross-border payments, today announced the launch of the Diners Club International® Card for its travel customers. This milestone makes Nium one of the first global card issuers in the travel space to offer cards across the four major schemes.
Nium empowers some of the world’s largest online travel intermediaries to instantly, securely, and cost-effectively pay airlines and travel suppliers around the world using its B2B virtual card solution. Now, the introduction of the Diners Club International Card provides Nium travel customers with even greater payment flexibility, acceptance, and choice, reinforcing Nium’s position as a scheme-agnostic innovator in the travel payments industry.
“Expanding our payments offering with Diners Club International underscores Nium’s commitment to delivering innovative and flexible solutions that meet the evolving needs of the travel ecosystem,” said Mark Anthony Spiteri, SVP & Global Head of Card Business at Nium. “Building on our real-time cross-border payments network spanning over 220 markets, our ability to issue virtual cards across four of the world’s leading payment schemes – Visa, Mastercard, UATP, and now Discover – gives our customers unparalleled global access, so they can scale their businesses seamlessly across borders and industries.”
Diners Club International, which is a part of Discover® Global Network, provides travel corporations and business owners with a range of payment and expense management solutions. Diners Club Card holders benefit from acceptance at more than 55 million global merchant locations1 and over 1.2 million ATMs, as well as access to over 1,500 airport lounges and experiences worldwide.
“The premium proposition offered by Diners Club International is perfectly aligned with Nium’s ambition to deliver best-in-class payment solutions to its travel intermediary, airline, and global partners. Diners Club International’s unique partnership model has built a strong acceptance footprint around the world. Complemented by Nium’s expansive real-time payments network, we are now able to reach even more global markets and members than before,” said Matt Sloan, Vice President, International Markets EMEA at Discover.
The addition of the Diners Club International Card will optimize costs, improve acceptance, and increase optionality for Nium’s virtual card travel customers. The new offering is available internationally. The relationship will also enhance Nium’s growing Airline Payments offering, the travel industry’s first ‘closed-loop’ B2B payment method for online travel agents and their airline partners.
To find out more about how travel intermediaries are unlocking new revenue streams, enhancing customer satisfaction, and improving efficiency with virtual card solutions, download Nium’s guide to How Virtual Cards Create an Air Travel Payments Revolution.
About Nium
Nium, the leading global infrastructure for real-time cross-border payments, was founded on the mission to deliver the global payments infrastructure of tomorrow, today. With the onset of the global economy, its payments infrastructure is shaping how banks, fintechs, and businesses everywhere collect, convert, and disburse funds instantly across borders. Its payout network supports 100 currencies and spans 220+ markets, 100 of which in real-time. Funds can be disbursed to accounts, wallets, and cards and collected locally in 40 markets. Nium’s growing card issuance business is already available in 34 countries. Nium holds regulatory licenses and authorizations in more than 40 countries, enabling seamless onboarding, rapid integration, and compliance – independent of geography. The company is co-headquartered in San Francisco and Singapore.
1 Based on data provided to Diners Club International by merchants, acquiring institutions and other third parties as of December 31, 2023.
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View original content:https://www.prnewswire.co.uk/news-releases/nium-launches-diners-club-international-card-expanding-b2b-payments-offering-for-travel-industry-302346250.html
HANOVER, Germany, Jan. 9, 2025 /PRNewswire/ — Backpack Exchange, a fully regulated global cryptocurrency exchange, today responded to statements made by FTX Trading LTD (d/b/a. FTX.com) and the FTX Recovery Trust (collectively “FTX”) regarding the recent acquisition of FTX EU.
Backpack recognizes that the sale of FTX’s European assets is a complex process and appreciates the FTX bankruptcy estate for their commitment to clarity and maximizing customer return.
We would like to issue this press statement to clarify certain statements made by the FTX estate that could potentially be confusing to FTX EU customers.
As widely reported in early 2024, FTX entered into a sale of various European assets, including FTX EU, to certain former insiders in February 2024, which was approved by the FTX bankruptcy court in March 2024 and subsequently closed in May 2024. Payments have been made to the FTX bankruptcy estate in accordance with the terms of purchase.
Subsequently, Backpack purchased the same European assets from these same insiders, which has also been completed and reflected on official publicly available German court records since June 2024.
As a licensed entity, the transfer of the FTX EU entity was subject to regulatory approval by CySec. In December 2024, CySec approved Backpack’s purchase following a lengthy diligence process. Following such approval, the FTX estate is obligated to transfer the shares as set out in the court-approved sales and purchase agreement.
We look forward to the completion of the transfer so that, like the FTX bankruptcy estate, we can begin to return customer funds to former FTX EU customers.
The FTX estate will not be responsible for the repayment of any funds owed by FTX EU to former FTX EU customers. FTX EU will be renamed to Backpack EU and Backpack EU will be solely responsible for redistributing former FTX EU customer funds.
If there is any confusion, we welcome any questions from former FTX EU users. Please do not hesitate to reach out to [email protected] with any questions.
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View original content:https://www.prnewswire.co.uk/news-releases/backpack-responds-to-ftx-statement-302346689.html
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