Indian smartphone maker Lava is also jumping on the mobile payment service bandwagon. Called Lava Pay, the service is unique because it does not rely on internet to enable mobile payments. Lava International Limited claims that the app comes with the highest security standards. The real deal here is that the new service enables feature phone users to make payments using Unified Payments Interface. The service has the potential to simplify payments for millions of feature phone users in the country. Also Read - UPI remained the most preferred mode of payment in terms of volume in 2019: Report
Lava Pay launched: Check how it works
Lava Pay will come pre-installed in all the upcoming feature phones from the company. All the existing Lava customers will be able to get the application installed on their current phones by visiting any of the 800+ service centers in the country. The app also comes with a simple user-interface and Lava says it has been designed with feature phone users in mind. In order to send or pay money from the app, Lava feature phone users have to go to the app and enter the phone number of the receiver. Also Read - Paytm crosses 100 million UPI handles milestone for Payments Bank
In the next screen, they need to enter the amount they wish to pay and then four digit UPI code. Once the transaction is complete, both the sender and the receiver will receive an alert immediately. “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,” said Tejinder Singh, Head-Product, Lava International. Also Read - Single QR code for UPI and Bharat QR based e-payments launched by Pine Labs
With the Lava Pay app, the feature phone users will also be able to check their account balance with a single step. The configuration process is easy, Lava said in a statement. The users will also be able to visit their nearest bank to configure the app and enable transaction. “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,” Singh said in a statement.