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Mobile Payments

Lydia and N26 to support Apple Pay in France

Wednesday 19 July 2017 | 10:34 AM CET

Lydia, a P2P payment app, and N26, a Germany-based fintech company, have announced that they will support Apple Pay mobile payments in France.

Apple Pay has not made major gains in France as only two banks currently support the mobile wallet: Banque Populaire and Carrefour Banque. Banks such as BNP Paribas, Société Général, Crédit Agricole, La Banque Postale, have not announced plans to accept the payment method on their digital banking apps.

In France, debit cards are more popular than credit cards and there is little demand for Apple Pay. Furthermore, banks also support interest-free overdrafts for small amounts and the interchange fee for debit cards is lower than what Apple is asking.

However, the company’s luck may start to change as Crédit Mutuel Arkea announced that it is looking to integrate the mobile payment option. This could prompt other bigger banks to support the ewallet, reports TechCrunch.com.

More: Link
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