In brief : Lyf ceases its activities

Founded in 2017, Lyf sought to transform purchasing paths by proposing innovations integrating both payment, loyalty, and digitalization of customer experiences. However, the French FinTech Lyf, controlled by Crédit Mutuel and BNP Paribas, has just announced the cessation of its activities.

Lyf was historically committed to the development of mobile payment and digital commerce solutions (QR Code, festival cashless, scan&go, catering digitalization, payment via license plate, etc.). In particular, it was working to impose its solutions on the targeted retail, catering, mobility and event sectors.

However, after several years of activity, FinTech announces that it has ceased operations because of a lack of profitability, despite the strong commitment of its teams and the support of its shareholders. The decision of its Board of Directors concerns the gradual termination of Lyf's activities and services.

This announcement highlights the major difficulty encountered by neo-actors in the massive adoption of their solutions by the market and in reaching the threshold of profitability, even with the support of major banking actors.

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