Lydia launches Lydia Premium

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Lydia launches Lydia Premium

French startup Lydia announces two new things today. First, the company is launching a financial hub with multiple new products. Second, Lydia is announcing a new premium subscription to access those new features.

“Today, we’re lucky enough to have you here to announce you the biggest thing we’ve done since Lydia’s launch,” co-founder and CEO Cyril Chiche said in a press conference. “We’ve been working on this for a while — and it’s not a challenger bank.”

Lydia is no longer just a peer-to-peer payment app with a few other features. The company says it is now building a meta-banking app, sitting above other financial products. So you’ll find and control a handful of financial products in the Lydia app.

“We didn’t want to stop at aggregating services,” Chiche said. “But we tried to think about people-centric, exclusive features that you can’t find anywhere else.”

The only banking app you need

Let’s go through the new features. There’s a new IBAN menu where you can add new recipients using a good old IBAN account. Lydia also asks you if you want to add specific IBANs to your own bank accounts. This way, instead of opening BNP Paribas’ app to copy and paste an IBAN into Société Générale’s app, you can add recipients from Lydia.

And of course, you can also send money to your recipient. You can use money from your Lydia e-wallet or from one of your own bank account. You don’t have to open your banking app anymore. Lydia leverages Budget Insight for this feature.

Lydia also supports recurring transactions. “It’s been the most requested features for multiple years,” co-founder and CTO Antoine Porte said. For instance, you can pay for your share of the internet bill every month using Lydia. The app sends you a notification every month to confirm the transaction.

Finally, there’s a brand new tab to get an overview of multiple accounts. You can see your bank account and Lydia sub-accounts. For instance, if you’re going on vacation with a few friends, you can create a Lydia sub-account and manage all your expenses from Lydia without any fee.

Interestingly, you can create a URL and send it to friends who are not using Lydia. Other users can then pay using your debit card. It feels like a streamlined version of Lydia’s existing money pot feature.

This is a big step for the company as Lydia is launching Lydia Premium for those new features. You can connect to your bank accounts, create recurring payments and sub-accounts for a monthly post. It’ll cost €2.99 per month ($ 3.69).

Existing features are still free. You can send and receive money in a just a few seconds with a Lydia transaction. You can pay in Franprix stores or on Cdiscount with your Lydia account.

You can try some of the new features with a free account. For instance, you can link one bank account, you can create one recurring payment, you can generate one virtual card, you can create money pots with some fees, etc.

Just like before, you can generate a virtual card for free so that you can pay on the internet or use Apple Pay with it. But if you’re a Lydia Premium subscriber, you’ll be able to generate multiple virtual cards to manage your online subscriptions. For instance, you can stop a subscription by deleting a virtual card or change the payment source for this card.

A Lydia MasterCard and IBAN for all your transactions

If you want to get a good old plastic card, you can pay an extra euro. For €3.99 per month ($ 4.92), you get everything I just described and a MasterCard. When you pay, the card uses your Lydia e-wallet and sends you a notification. You can open the app and choose one of your bank accounts to debit your bank account instantly.

Personal IBAN numbers and direct debits are no longer available for now — you could generate one for free. They’ll be back as part of Lydia Premium with new features as well as shared accounts. You’ll be able to pick a bank account for each transaction. For instance, you can say that you use LCL for your electricity bill and Fortuneo for your taxes. Lydia partners with Treezor for IBANs, virtual and physical cards.

Lydia currently has a little bit over a million registered users. And the startup is currently attracting around 2,000 new users every day. Over 80 percent of this user base has less than 30 years.

Lydia is currently available in France, Ireland, the U.K., Spain and Portugal. The startup also recently raised $ 16.1 million (€13 million) from CNP Assurances and others.

It’s interesting to see that Lydia isn’t competing head-to-head with challenger banks, such as N26 or Revolut (soon). The company thinks you can provide more value by partnering with multiple companies and building the interface that makes everything work together.

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How to watch HuffPost Editor in Chief Lydia Polgreen live

Polgreen will be live from Recode’s Code Media conference.

Lydia Polgreen, the editor in chief of HuffPost, will be live from Recode’s Code Media conference in Huntington Beach, Calif., on Monday, Feb. 12 at 3:20 pm PT / 6:20 pm ET.

Polgreen was named editor in chief of HuffPost in December 2016 after nearly 15 years at the New York Times, where she led an initiative to expand its international readership. At HuffPost, Polgreen is trying to remake a publisher that many people still connect with founder Arianna Huffington. She’s overhauling the newsroom and reaching out to new readers who’ve been ignored by the big news publishers. All of that as she navigates the Verizon/Oath/AOL/Yahoo media experiment.


Recode – All

French peer-to-peer payment app Lydia adds Apple Pay support

 A peer-to-peer payment app that works similarly to Venmo from startup Lydia in France now works with Apple Pay (a feature originally announced in July), making it possible to spend your balance from the app wherever MasterCard and Apple Pay are accepted. It’s a neat use of Apple Pay to make it possible to do mobile payments without requiring that a user have a credit card – and it… Read More
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HuffPost’s Lydia Polgreen and Time Inc.’s Rich Battista are coming to Code Media 2018

 You should join us there.

Quick: How do you turn a giant print publisher into a nimble digital company?

Tough, right?

Here’s another: How do you transform a web site best known for a single, larger than life personality into a mainstream news site for the Trump age?

Not easy, either.

But here’s the thing: In a few months, we’re going to talk to the two people whose job depends on answering those questions. Want to hear what they have to say?

So do we. That’s why we’re excited to announce that Time Inc. CEO Rich Battista and Huffpost editor-in-chief Lydia Polgreen are joining us at the next edition of Code Media, next February 12 and 13, in Huntington Beach, Calif.

If you’ve been to earlier versions of Code Media, you’ll know what to expect from next year’s edition: Onstage interviews with the most interesting and powerful people in media and technology — and offstage moments that let you connect with people who will help you and your company navigate a challenging and rewarding landscape.

Code Media is coming to Huntington Beach, CA, Feb. 12-13.

If you make media, monetize it or get it in front of people, you’ll want to be there.

Battista is a sales veteran who took over the massive magazine publisher a year ago. Inside the company, his challenge is figuring out how use its declining print business to launch new digital businesses, while he still can. Externally, he needs to convince Wall Street that he was right not to sell the whole business earlier this year.

Polgreen is a veteran New York Times journalist who joined HuffPost at the beginning of 2017, and is trying to remake a publisher that many people still connect with founder Arianna Huffington. She’s simultaneously overhauling her newsroom, and reaching out to would-be readers who’ve been ignored by big news publishers. Oh — and she’s also navigating life as part of the Verizon/Oath/Aol/Yahoo media experiment.

So, Kara Swisher and I will have lots of questions for both of them. We want to talk big-picture strategy stuff and the tactical plans they use to operate media properties in 2017.

And when we’re not talking to them, or you guys, we might sneak a peak at the Pacific Ocean: We’re hosting Code Media 2018 at the very cool Pasea Hotel & Spa, which is a very nice place to spend two days in February.

We’ll have lots of speaker announcements throughout the fall. But no need to wait: If you register now, you’ll save $ 500 with first mover price.

Sign up here, and we’ll see you in February.


Recode – All