The core of India is its Rural sector with 83.3 crore Indians living in the rural areas. Digital payments have provided the boost to 37.7 crore of the Indians residing in urban areas already with the quick, convenient and safe services. Simultaneously, the emphasis has also been put on the importance of the rural sector needing to find maximum incentives for the advancements.
Dealing with the Issues faced by Rural areas
As there is a network connectivity problem in the remote locations, provision of micro ATMs consist of features that make withdrawals easier, quick and convenient for the residents of rural areas. Micro ATMs are handheld devices, which have most of the capabilities of a regular ATM, except that these are manned units, by a merchant, cashier or a field staff.
In the remote locations, since the infrastructure needs to be ramped up, the availability of networks does not help much. Thus, wherever the network is feasible, Lyra has provided the rural areas with the secured technology for successful payment transactions.
Solutions Provided by Lyra
Lyra’s last mile connectivity in Rural India has enabled NAC-GPRS solution for providing uninterrupted transactions. LYRA’s unique last mile connectivity solution is being used by many BCs (business correspondents) to provide banking services using mobile handheld devices in the villages or rural sector at a pan India level. Lyra’s contribution to rural areas with regard to the e-payments domain has been quite expansive. Total 10 million connections are being processed per day.