Lydia launches its cash-back programme with Paylead
The online bank Lydia, initially specialized in mobile payments, has just strengthened its partnership with Paylead, a FinTech specializing in bank data analysis. They are thus jointly launching a new cash-back offer and fulfilling the contract they had set for themselves.
- The new cash-back offer that will be proposed to Lydia's customers has been named "Remises". It is the result of a collaborative effort between Lydia and its partner Paylead.
- Remises" takes the form of a cash-back program allowing Lydia users to receive a percentage of their online or in-store purchases.
- This amount is estimated at 4% on average.
- Customer journey:
- The accumulation of discounts is then automatic, and the cash-back is transferred to the user's Lydia account every 20th of the month.
- The "Rebates" are triggered when spending with the Lydia Visa card as well as with the other cards linked to the Lydia account. However, a higher discount rate is applied when payments are made with the Lydia card.
- There is no charge to join the "Rebate" program.
- Realize a partnership: Paylead and Lydia announced their partnership last March. This partnership should allow Lydia to offer a cash-back service to its customers.
- Diversifying its offer: Lydia has gone from being a FinTech specializing in payments to a complete neo-bank. It now offers a current account, payment methods, interest-bearing savings, a credit offer and payment facilities.
- Increasing usage: The launch of "Remises" aims to satisfy Lydia's customers on the one hand, but above all it reflects the FinTech's ambition to increase the attractiveness of its services and the usage of its payment methods.
- Lydia and Paylead relied on a study to justify the relevance of their new offer. According to the Syndicat National du Marketing à la Performance (SNMP) dating from the end of 2019, the volume of sales generated by cash-back sites in France would have exploded between 2016 and 2019, showing an increase of 176%.
- The "Rebates" program is not Lydia's first foray into the rewards field. The FinTech already allowed its customers via a roulette system, to see the amount of their transaction (paid with their Lydia card) refunded up to two times with each payment. An initiative that Virgin had tested with its customers in Australia.