Fintech start-up Lydia is the dominating mobile payment app in France with the majority of its 3.3 million users in its house nation. That’s why the startup has actually been working hard over the past ten days to ship a feature that was originally planned for this summertime– donations to charities and health centers
. Beginning today, Lydia users can choose in between 17 charities and send out cash to those charities using the familiar Lydia payment circulation. It works like sending money to your friends and family.
Donations begin at EUR0.50 and those are one-off payments– you can’t establish repeating payments or assemble deals for example.
Lydia just recently introduced “the market”, a marketplace of monetary products, such as little credit limit, phone insurance coverage and free credit on home insurance and utility bills. The market menu was buried under the profile tab. The company is now emerging that screen in its own tab right next to your accounts and deal history. You can find donations as a new button in the market.
There’s another method to donate. On the payment screen, when you tap a sum and hit next, in addition to the usual list of receivers, you can choose to send out money to a charity from there as well. This feature is live on Android and will be readily available soon on iOS– iOS users need to go through the marketplace for now.
The start-up has actually chosen 17 charities for now, but that list might grow with time. You’ll find public medical facilities(Paris, Nantes, Strasbourg, Grenoble, Lille and Nice), charities focused on health along with general public interest charities (Fondation de France, Fondation 101, Médecins du Monde, Impressive, Action contre la Faim, La Croix Rouge française, La Fondation Abbé Pierre, La Ligue Nationale contre le Cancer, Réseau Entourage and La Maison des Femmes de Saint-Denis).
If you’re not a Lydia user , you can still utilize Lydia’s payment flow in your web internet browser with a credit or debit card. (However absolutely nothing is stopping you from contributing straight on the charity websites of course.)
You’ll have to ask charities directly if you want to provide a large sum of money and subtract part of your donation from your income taxes. Lydia can’t give you a tax form directly as it just functions as an intermediary.
Ultimately, Lydia will deduct processing charges from your donations prior to handing them over to charities. The company is waving charges till June 30 due to the coronavirus crisis.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.