Fintech company Lyra has launched Payment SWITCH, a solution to facilitate real-time payment processing.
The solution works on AI-backed software system that assist in communication between various providers and performs payment and settlement process for both online and offline transactions.
Lyra Payment SWITCH is a rule-based authorization and switching solution which routes payment transactions between multiple acquirers and PSPs. The technology is compliant with RBI’s regulation on storage of sensitive card information, and with PCI standards, and also certified with card schemes like Visa, Mastercard, and NPCI.
Moreover, the solution offers BIN sponsorship, in-house hosting, modular architecture, platform to connect to PSTN and much more.
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