Facing the rise of Google Pay, Apple Pay and Wero, Lyf shuts down

Featured image of the article Facing the rise of Google Pay, Apple Pay and Wero, Lyf shuts down

An article by Sophie Baqué

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Publication

5 February 2026 à 10h37

Updated on 9 February 2026 à 17h16

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2 minutes

Publication: 5 February 2026 à 10h37, Updated on 9 February 2026 à 17h16

Reading time: 2 minutes

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Eight years after launch, Lyf ceased operations due to failure to gain profitability. Despite several major innovations in mobile payments, the fintech company did not reach critical scale, facing the rise of SoftPOS solutions and the emergence of wallet giants.

An article by Sophie Baqué

Add mind Retail to your sources
Publication

5 February 2026 à 10h37

Updated on 9 February 2026 à 17h16

Reading time

2 minutes

Publication: 5 February 2026 à 10h37, Updated on 9 February 2026 à 17h16

Reading time: 2 minutes

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On February 4, 2026, Lyf’s Board of Directors announced the business will close, 8 years after the payment startup was founded by Christophe Dolique and Jean-Marc Pasquet. For the BNP Paribas and Crédit Mutuel wallet (via subsidiary Euro-Information), which aimed to transform customer journeys through mobile payments, usage dynamics did not allow to reach profitability.

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Featured image of the article Sophie Baqué
Sophie Baqué Chief Editor of mind Retail
Featured image of the article Sophie Baqué
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