Lava Launches World’s 1st Non-Internet Based Mobile Payment App: This Is How It Works!
Why Is Lava Pay Unique?
Today, Lava International Ltd launched its digital payments app, Lava Pay. Further, the Noida-based smartphone company claims that the app is a unique digital payment solution.
The newly launched Lava pay service is unique because it does not rely on the internet to enable mobile payments.
Additionally, the Lava International Limited claims that the app comes with the highest security standards.
The main advantage of this is that it enables feature phone users to make payments using Unified Payments Interface.
Further, the service has the potential to simplify payments for millions of feature phone users in the country.
How Will This Application Help?
The Head-Product, Lava International, Tejinder Singh said “India has roughly 500 million feature phone users. However, most of them still do offline financial transactions for lack of internet connectivity on their phones,”.
“Lava Pay is a digital financial transaction solution that does not require internet connectivity. The app, with a simple UI for ease of transactions, eliminates the need for carrying cash at all times,” he added.
What About Installation?
For the installation, the app will be pre-installed in the brand’s upcoming feature phones.
While the existing Lava customers can get the fintech app installed in their phones at the company’s 800+ service centers spread across the country.
How Does It Work?
The Lava app comes with a simple user-interface and Lava says it has been designed with feature phone users in mind.
For sending or paying money from the app, users need to enter the phone number of the receiver, the amount and a transaction ‘Pass Code. ‘
When the transaction is complete, both the sender and the receiver will receive alerts.
Apart from that, the users can check their account balance on the app.
For initiating a transaction through the app, it has to be configured by registering the user’s accounts with his or her bank. After registration, users can proceed with their transactions.
Further, the mobile maker claims to have taken steps to ensure that the transactions are secure.
According to data from the National Payments Corporation of India (NPCI), Digital payments have been on the rise in India.
Only UPI transactions alone touched 132.32 crore in February, with the total amount of transactions totaling Rs 2.2-lakh crore.