"I'll make you a Lydia" or "I'll make you a Paylib": the expression has become common when sharing a payment with friends or family. Since their launch ten years ago, these two payment service providers have largely contributed to democratizing the use of instant transfers, effective in a few seconds.
What consequences will the new European regulation currently being adopted, which will oblige banks and specialised institutions to provide this service, and at the same rate as standard transfers – i.e. free for French individuals – from 2024?
"Paylib is already free in the 21 banks that deploy it," says Vincent Duval, CEO of Paylib. This interbank solution is offered by some institutions when transferring funds. Advantage: the money is transferred free of charge (with a ceiling of 500 euros as a rule), from a simple phone number and already instantaneously.
"A real complement to traditional transfers"
"People use Paylib because it's convenient. This is done directly from the banking application without the need to enter the beneficiary's IBAN or bank details. It's a real complement to traditional transfers. The widespread use of instant transfers further strengthens the development of our business," adds the CEO, who claims to have more than 10 million active users. Knowing that in the long term, Paylib is destined to transform itself "and to continue under the Wero brand, common at the European level, as part of the European Payment Initiative", adds Vincent Duval.
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"The fact that instant payment is becoming the norm is good news," says Antoine Porte, co-founder of Lydia. We are very pleased with this progress. On this app, transfers are also made with a phone number, without the need for an IBAN or bank details. "For more than two years, more than 95% of our bank transfers have already been made instantly and free of charge," continues the manager.
Convinced that "instant transfers open up a new playing field for all payment players", he announces a new feature to come: "In a few months, we will offer the possibility of participating in a pot by bank transfer."