French retailer Carrefour is to begin the roll out of LyfPay, a new mobile app resulting from the merger of BNP Paribas-backed Wa! and Credit Mutuel’s Fivory, which will enable customers to make instore and online payments with a single movement, send P2P money transfers, settle invoices and use loyalty points and coupons.
The agreement to merge Wa! with Fivory was announced in October last year with the aim of creating a universal mobile app backed by two of France’s biggest banks, retailers Carrefour and Auchan, and Mastercard.
“As customers become increasingly mobile and connected, it is becoming ever more vital for retailers and banks to provide them with new shopping experiences, reinvent the customer relationship, and make good use of the data which flows from these interactions. Given these new challenges, Lyf Pay is a unique initiative in Europe, bringing together the leading players in their respective fields – BNP Paribas, Carrefour, Crédit Mutuel*, Auchan, Mastercard, Oney and Total.”, according to the press release.
“Developed in conjunction with retailers and with the customer firmly in mind, Lyf Pay covers an extremely broad set of needs: in-store payments, ranging from small local shops to large retail chains; online shopping; friends and family payments; and even charitable donations,” says Carrefour. “By integrating payment cards, loyalty cards and coupons, and displaying news flashes from users’ favourite shops, alerting them to available special offers, and providing information on their expenditure, this new app goes a long way to creating a highly intimate relationship with the consumers it serves.”
Available for installation on any smartphone, the partners claim to have secured the approval of petrol chain Total, plus a number of independent traders, hospitality groups and non-profit charity and student organisations for the nationwide launch later this week.