At the moment, how you pay is dictated by where you are and who you're paying. Cash at the cornershop, a cheque at the doctor's, card for online purchases, or a bank transfer to pay back a friend. This is hardly very practical, and is often extremely frustrating - especially when the nearest ATM is good ten minutes' walk away, and it's raining.
In the age of smartphones, online payments, and the "cloud", it's strange that we're still using pieces of metal and paper to make payments. Why can't there be one, simple, universal means of payment to pay for anything, anywhere? That's what was keeping us up at night when we launched Lydia in 2013 with one goal: to be able to pay for anything easily, quickly, and securely with the one object you always have on you. Your phone.
Lydia is the labour of love of a team of very passionate, extremely ambitious, and slightly crazy people. We have made it our personal mission to push the boundaries, break down the barriers between us and a cashless society, and to encourage the rise of mobile payments globally. We're a demanding bunch, obsessed with finding the optimal technological, design, and legal solutions to build the best payment app in the world.
Technology is cool, but it shouldn't be an end in itself. For us, the real goal is to make life easier - by using the latest, cutting-edge technology. That's exactly what we're trying to do with mobile payments: we're not interested in building a trendy gadget that you get bored of after a week, and, above all, you shouldn't be held hostage to a particular app, platform, or bank. We believe that mobile payments must provide a real solution to a genuine problem. Everything we do is guided by common sense and our universal ambition: a service for everything and everyone.
So, who's Lydia? Well, the name actually comes from the kingdom of Lydia (part of present-day Turkey), where the first coins were minted around the seventh century B.C. The kingdom became rich from these coins made from electrum, a natural alloy of gold and silver, that was abundant in the river Pactole. Croesus was the last and most famous of the kings of Lydia. Pactole and Croesus entered into legend, and are used in modern parlance to symbolise wealth. We chose the name "Lydia" as a playful nod from modern techology to the entire history of money.
A team of experts
Our banking partners
Thanks to our first-class banking partners, we can assure a high level of security. We select the French leaders to work with:
- The Société Financière du Porte-Monnaie Électronique Interbancaire (SFPMEI) to manage and garantee all the monetary exchanges.
- Payline to process credit card payments
- Treezor, a Mastercard principal member, for prepaid cards emission.
- Budget Insight, pour les connexions avec les banques qui permettent l'agrégation de compte et l'initiation de virements.