The Fintech Company Lydia Launches a New App to Make Your Life Easier

The French unicorn Lydia, valued at more than 1 billion euros, now offers its customers a new special application in order to make reimbursements to loved ones or organize a prize pool, reports the newspaper Le Parisien, this Tuesday, April 2nd. Last year, following changes imposed by regulations on payment services, such as strong two-factor authentication or identity verification, some users complained, pointing out the lack of practicality of the ‘application.

It is therefore to meet this need for simplicity that the company, which has 8 million customers, has decided to launch from this week an application separate from the banking application, called Lydia. This is therefore specially designed for payment between friends and online prize pools. “It’s a kind of spin-off like in American series,” explained Antoine Porte, co-founder and general manager of the company, to our colleagues.

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Two very distinct applications of the Lydia app

“On the one hand, we are keeping the Lydia app, renamed Lydia Accounts, which retains all its functionalities, and on the other hand, we are launching a new Lydia application for those who only want to request, send or collect money. money,” he explains. In addition to this great novelty, Lydia has also made other changes to its services. It is, for example, no longer necessary to manually recharge your account and have a positive Lydia balance before making a payment, notes Le Parisien .

Félix Lepoutre, vice-president in charge of design, assures the newspaper: “If we only want to transfer money to a loved one, we will be able to make a Lydia again in a flash. For such use, there are no superfluous things that will interfere with the user experience. On the contrary, we have simplified and streamlined it as much as possible .”

Another development: for several weeks, it has been possible to assign an IBAN to the prize pool that we have just created. This functionality allows anyone to participate, whether registered on Lydia or not, and therefore to avoid paying bank charges (2.5% payable by the collector), participation from a Lydia account being , she, free of charge. Last year, nearly 4 million people participated in 1 million Lydia prize pools with an average collection of 500 euros.

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(Featured image by AhmadArdity via Pixabay)

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First published in Capital. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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