Lyf Pay

What Lyf Pay does

Lyf Pay was a French mobile payment company headquartered in Paris that operated from approximately 2016 until ceasing operations in 2024. The company built and operated a contactless mobile payment application for Android devices, serving two named segments: individual consumers (particuliers) using the app for peer-to-peer transfers, shared savings pools ('cagnotte'), and in-store contactless payments, and professional merchants requiring payment acceptance. The service was specifically promoted to BNP Paribas and Hello bank! customers as their contactless Android payment option.

The technology stack was conventional mobile and web development: Kotlin and Java for the Android client, HTML5 and JavaScript for web services. Distribution was concentrated through the Google Play Store and, more strategically, through embedded partnerships with BNP Paribas and its digital banking subsidiary Hello bank!, which gave Lyf Pay access to an established retail banking customer base rather than requiring independent user acquisition. The company also pursued inorganic expansion, acquiring French shopping and payments company NEOS in June 2019 for an undisclosed amount.

Lyf was GDPR-compliant and adhered to the European Accessibility Act (EU Directive 2019/882) and EU Directive 2016/2102, commissioning an accessibility audit of the Android app from Temesis in August 2024. Despite more than eight years of operation and a workforce of 51–100 employees, the company publicly ceased mobile payment services in 2024, posting a wind-down notice on its website and maintaining customer support channels for both consumers and merchants.

Name

Lyf Pay

Legal name

Lyf

Website

https://lyf.eu

Company type

Private

Founded year

2017

Operating status

Closed

Headcount range

51–100 employees

Short description

Lyf Pay was a French Android mobile payment application enabling contactless payments, peer-to-peer transfers, and shared savings pools. It served individual consumers and merchants, distributed via BNP Paribas and Hello bank!, and ceased operations in 2024 after eight years.

Ownership category

akta.pro rank

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Markets served

GTM type

B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Distribution channels1 record

Core offering

Lyf Pay operated a mobile payment application enabling contactless payments on Android devices for individual consumers and merchants. The service included user registration, personal information management, account creation, and a group savings (Cagnotte) feature. It was distributed in partnership with BNP Paribas and Hello bank!. The company ceased operations in 2024 after more than 8 years of activity.

Product overview

Lyf Pay was a single unified mobile payment application offering contactless payment services for Android devices. The product has now ceased operations after more than 8 years of innovation in mobile payments. The service supported BNP Paribas and Hello bank! customers for contactless Android payments.

Differentiator

Problem solved

Functional benefit

Products and services

• Lyf Pay Mobile Application Contactless mobile payment application enabling Android users (including BNP Paribas and Hello bank! customers) to make in-store payments without physical cards. Included user registration, personal information management, peer-to-peer transfers, and a Cagnotte (group savings) feature. The service has now ceased operations.

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Three partnerships are on record.

• TemesisImplementation/ SI/ Consulting Partner · 1 August 2024Temesis conducted an accessibility audit of the Lyf Pay Android mobile application in August 2024, assessing compliance with RAAM (Référentiel d'Accessibilité des Applications Mobiles) standards and European accessibility requirements.
• BNP ParibasStrategic or Co-development PartnerBNP Paribas was a key banking partner, with Lyf Pay integrated as a contactless payment service option for BNP Paribas customers on Android devices. This partnership provided distribution and customer access for Lyf's mobile payment services.
• Hello bank!Strategic or Co-development PartnerHello bank! (BNP Paribas digital banking brand) partnered with Lyf to offer contactless mobile payment services on Android to their customer base, expanding Lyf's reach within the digital banking segment.

Recent moves5 records

Expansion highlights3 records

Broad incumbents

• Revolut: Revolut is a major European fintech offering mobile payments, P2P transfers, and contactless cards, broadly competing with Lyf Pay in the French and European consumer fintech space.
• N26: N26 is a European digital bank offering mobile payment functionality and contactless cards, representing the broader incumbent competition Lyf Pay faced in French consumer banking.
• Samsung Pay: Samsung Pay is a major global contactless mobile payment platform available on Samsung Galaxy devices, competing with Lyf Pay in the broader mobile wallet category.
• PayPal: PayPal is a global incumbent in digital payments offering mobile wallet functionality and P2P transfers, broadly competing with Lyf Pay in the European consumer payments market.
• Apple Pay: Apple Pay is the dominant incumbent contactless mobile payment system on iOS devices, broadly competing with Lyf Pay in the French contactless payment market.
• Alipay: Alipay is a global mobile wallet leader expanding into European markets, representing the broader competitive landscape of mobile wallet services in which Lyf Pay operated.
• Google Pay: Google Pay is the incumbent Android-native mobile wallet and contactless payment service, directly overlapping with Lyf Pay's core contactless offering on Android devices.

Direct peers

• Lydia: Lydia is a French mobile payment app offering P2P transfers, mobile payments, and merchant services directly competing with Lyf Pay in the French consumer mobile wallet market.
• Paylib: Paylib is a French mobile payment solution backed by major French banks including BNP Paribas, offering P2P and online payments that directly overlap with Lyf Pay's value proposition in France.

Emerging players

• Curve: Curve is a European payment consolidation app that aggregates multiple cards into one, representing an emerging player in the European mobile payment space with overlapping consumer propositions.

Market position

Strengths3 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/lyfpay

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lyf Pay