Lava International on Monday announced the roll-out of its UPI-enabled service and said that the company is working with National Payments Corporation of India (NPCI) to take care of all the compliances.
“UPI doesn’t require internet for all the use cases integrated in the Lava Pay app which include Bank to Bank transfers, Transfer to registered mobile numbers, Recharging mobiles, Checking balance, paying to registered merchants, Setting the Transaction PIN, Checking last 5 transactions etc,” Tejinder Singh, Head-Product, LAVA told ET.
This is the first time that a handset company has introduced digital payments app for its users. Previously, Chinese brands Xiaomi and Realme had spun off their financial services apps to offer small-ticket loans, insurance and credit score reports to their users.
“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,” Singh said in a statement.
Currently, there are 500 million feature phone users in India.
The Lava Pay app will come pre-installed in company’s all upcoming feature phones while existing Lava users can get this application installed in from Lava service centres.
While the app is only compatible with feature phones currently, Singh said that Lava is working for a smartphone solution as well.
Lava is the 5
th largest feature phone company globally, according to Counterpoint Research.
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