LAVA PAY – UPI Transactions without internet
Lava
Phones unveiled ‘Lava Pay App’, for it’s Smart Feature Phone users. ‘Lava Pay
App’, is a UPI Payment Application without the need for the internet to execute
financial and non-financial transactions.
Lava has
a range of Feature and Smart Phones. As of now, ‘Lava Pay’ is available on Lava
Smart Feature Phones. Going ahead, Lava Pay will be on Lava Smart Phones too.
A Smart
feature phone is higher than a feature phone but lower than a smart phone. A
smart feature phone has limited internet capability and few apps.
‘Lava
Pay’ is a default app on new feature phones. Existing users can install the
Lava Pay app on their existing feature phones by visiting the nearest service
centre.
The process flow is as under:
User logs
on to the ‘Lava Pay app’,
01) Key in
the recipient’s phone number or scan the Payment QR Code.
02)
User keys in the desired amount
03)
Connection established to the transaction server
04)
User keys
in the UPI Password
05)
If the password is correct, the transaction
executes and the sender’s bank account debited with the transaction amount.
‘Lava Pay
app’, supports basic UPI features viz Balance enquiry, Funds transfer etc.
The user
is expected to have least skills to navigate the screens in the App.
Commenting
on the launch, Tejinder Singh, Head-Product, Lava International said:
QUOTE
India has roughly 500 million
feature phone users, however, most of these users still do offline financial
transaction for lack of internet connectivity on their phones.
Lava Pay is the first solution
for digital financial transactions without the requirement of internet
connectivity.
The fully secure Lava app with a
very simple UI for ease of transactions is aimed at empowering feature phone
users by eliminating the need of carrying cash all the time.
We are hopeful that this
non-internet payment solution will be well-accepted in the market and change
the way feature phones users conduct transactions in future.
Lava Pay is our contribution to
help boost Digital India initiative of the Government as well as bringing
financial inclusivity for a large population of the county.
UNQUOTE
"The
app comes with the highest security standards and enables feature phone users
to conduct digital transactions in a simplified manner. The ‘Lava Pay app’ will
come pre-installed in the company's all upcoming feature phones," a
statement said.
Lava is
the 5 th largest feature phone company globally, according to Counterpoint
Research.
‘Lava
Pay’ still requires the user to have a UPI ID. Upon reaching out to Lava on how
a person with no Internet access is supposed to set up a UPI account, the
company said that the banks will set up the user's UPI ID, through which the
app will function.
The exact
details are still awaited, as this is a new feature. As of now, bank account
holders download a UPI App and set up the UPI ID. Under ‘Lava Pay’, setting up
the UPI ID is done by the account
holder’s bank.
Upon
completing the payment, the receiver and the sender both will get a
confirmation message on their phones. Mr Tejinder Singh, Head of Product for
Lava, said that Lava Pay is the first solution for digital financial
transactions without the need of Internet connectivity.
Image courtesy: FoneArena
The app
also allows people to check their account balance straight within the Lava Pay
app.
According
to Singh, the company is trying to tap the 500 million Indians who do not have
access to Internet and rely on offline banking for all their banking needs
The
latest press release on the ‘Lava Pay App’, or Mr.Tejinder’s Singh’s statement
is not updated on the Lava Mobiles website.
All information is from internet
sites only.
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