Lydia launches Lydia High quality
French startup Lydia announces two new matters now. Initial, the firm is launching a money hub with numerous new merchandise. 2nd, Lydia is asserting a new top quality subscription to accessibility individuals new capabilities.
“Today, we’re blessed more than enough to have you below to announce you the most important thing we’ve performed considering that Lydia’s launch,” co-founder and CEO Cyril Chiche claimed in a press conference. “We’ve been doing work on this for a while — and it is not a challenger bank.”
Lydia is no for a longer time just a peer-to-peer payment application with a couple of other capabilities. The firm suggests it is now setting up a meta-banking application, sitting earlier mentioned other money merchandise. So you’ll uncover and manage a handful of money merchandise in the Lydia application.
“We did not want to cease at aggregating services,” Chiche claimed. “But we tried to feel about people-centric, unique capabilities that you just can’t uncover everywhere else.”
The only banking application you have to have
Let’s go through the new capabilities. There’s a new IBAN menu where by you can insert new recipients applying a great previous IBAN account. Lydia also asks you if you want to insert unique IBANs to your very own bank accounts. This way, rather of opening BNP Paribas’ application to duplicate and paste an IBAN into Société Générale’s application, you can insert recipients from Lydia.
And of training course, you can also deliver money to your recipient. You can use money from your Lydia e-wallet or from one of your very own bank account. You really do not have to open your banking application any longer. Lydia leverages Spending budget Insight for this element.
Lydia also supports recurring transactions. “It’s been the most asked for capabilities for numerous several years,” co-founder and CTO Antoine Porte claimed. For occasion, you can pay back for your share of the world wide web monthly bill each and every month applying Lydia. The application sends you a notification each and every month to validate the transaction.
Ultimately, there is a model new tab to get an overview of numerous accounts. You can see your bank account and Lydia sub-accounts. For occasion, if you are going on holiday with a couple of pals, you can build a Lydia sub-account and handle all your bills from Lydia with no any charge.
Interestingly, you can build a URL and deliver it to pals who are not applying Lydia. Other people can then pay back applying your debit card. It feels like a streamlined version of Lydia’s existing money pot element.
This is a big phase for the firm as Lydia is launching Lydia High quality for individuals new capabilities. You can link to your bank accounts, build recurring payments and sub-accounts for a monthly post. It’ll value €2.99 for each month ($3.sixty nine).
Existing capabilities are continue to free of charge. You can deliver and obtain money in a just a couple of seconds with a Lydia transaction. You can pay back in Franprix merchants or on Cdiscount with your Lydia account.
You can try some of the new capabilities with a free of charge account. For occasion, you can website link one bank account, you can build one recurring payment, you can crank out one virtual card, you can build money pots with some charges, and many others.
Just like ahead of, you can crank out a virtual card for free of charge so that you can pay back on the world wide web or use Apple Fork out with it. But if you are a Lydia High quality subscriber, you’ll be equipped to crank out numerous virtual playing cards to handle your on the net subscriptions. For occasion, you can cease a subscription by deleting a virtual card or alter the payment source for this card.
A Lydia MasterCard and IBAN for all your transactions
If you want to get a great previous plastic card, you can pay back an extra euro. For €3.99 for each month ($four.ninety two), you get all the things I just explained and a MasterCard. When you pay back, the card employs your Lydia e-wallet and sends you a notification. You can open the application and choose one of your bank accounts to debit your bank account promptly.
Particular IBAN numbers and direct debits are no for a longer time available for now — you could crank out one for free of charge. They’ll be back as element of Lydia High quality with new capabilities as nicely as shared accounts. You’ll be equipped to choose a bank account for each and every transaction. For occasion, you can say that you use LCL for your energy monthly bill and Fortuneo for your taxes. Lydia associates with Treezor for IBANs, virtual and actual physical playing cards.
Lydia currently has a minimal little bit in excess of a million registered people. And the startup is currently attracting close to 2,000 new people each and every day. Above eighty % of this consumer foundation has fewer than thirty several years.
Lydia is currently available in France, Eire, the U.K., Spain and Portugal. The startup also recently lifted $sixteen.one million (€13 million) from CNP Assurances and other people.
It’s exciting to see that Lydia isn’t competing head-to-head with challenger banking institutions, these kinds of as N26 or Revolut (soon). The firm thinks you can offer extra worth by partnering with numerous providers and setting up the interface that makes all the things get the job done jointly.