Visa announced it has signed an agreement to become the preferred payment partner of three successful and fast growing Fintechs in France: Lydia, Lunchr and manager.one.
The three Fintechs will now have access to Visa’s full range of products and services that will enable them offering cutting edge payment experiences to their users.
Lydia has become a ubiquitous mobile payment app, especially for people under 30 years old with 25% of French people between 18 and 30 years old. Today, the company have managed to attract 3 million users in France and 5,000 people sign up every day. As it has recently raised €40 million to continue offering new services from peer-to-peer payment, virtual money pot or a market place for other financial products. “The need for better understanding how our users are paying with Lydia is critical,” says Cyril Chiche, CEO of Lydia. “We are excited about this partnership that goes way beyond card issuing, all the way to getting user payment insights to offer them services that are always closer to their needs”, continues Cyril Chiche.
Following-up from the French Government’s desire to digitize paper meal vouchers in 2014, new Fintechs rose such as Lunchr. The Fintech raised €30 million in 2019 to continue expanding the number of restaurants and shops accepting payment with the Lunchr card and app. It also wants to develop new services on sharing payments on an order. “More and more employees in France receive digital meal vouchers in France…but 70% are still paper vouchers and the French Government mandated 100% digitization by the end of 2020. The growth potential for Lunchr is massive and I’m confident that Visa’s capabilities will provide the scale and support we are looking for to sustain our growth”, says Loïc Soubeyrand, CEO and Founder of Lunchr.
manager.one is a neobank dedicated to entrepreneurs, independent workers and small to medium businesses. It offers a large number of services and products that are easy to use and help business owners manage their accounting, procurement and finance tasks via a digital platform. “Core to our success is the seamless experience we offer to our peers. We are entrepreneurs and we know exactly how painful it could be to look after all these aspects. Since our launch, we have been working with Visa to offer services that facilitates employees and employers in their everyday life. For example, we added a currency conversion and an ATM locator features to our services. We want to continue identifying use cases and features together with Visa”, declares Adrien Touati, Co-Founder of manager.one.
“We are extremely excited to be the leading payment partner of such successful Fintechs,” declares Romain Boisson, Country Manager of Visa in France. “We are committed to partner with Lydia, Lunchr and manager.one to deliver even more value for their users. Working actively with the Fintech community is aligned with our commitment in opening up our platforms and tailoring our processes to Fintech from early stage with the Visa Fast Track programme to supporting their growth through our global network,” continues Romain Boisson.
Visa will dedicate a team to work with Lydia, Lunchr and manager.one on their development plans to ensure a rapid launch of their new features and services.