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November 21, 2018updated 22 Nov 2018 11:01am

French retailer Casino Group acquires 5% stake in LyfPay

Casino Group has bolstered its partnership with LyfPay, a multi-channel mobile payment solution provider, with an acquisition of 5% stake in Lyf.

Casino Group has bolstered its partnership with LyfPay, a multi-channel mobile payment solution provider, with an acquisition of 5% stake in Lyf.

In 2017, Casino Group collaborated with LyfPay for developing a mobile payment-related solution that can be used in its Géant hypermarkets and Casino supermarkets across France,  via the CasinoMax mobile app.

Following its successful deployment at 500 outlets of Géant hypermarkets and Casino supermarkets, LyfPay solution will now be expanded to the retailer’s other brands including Leader Price, Monoprix, LePetit Casino, Naturalia and Franprix in the coming months.

Casino Group is a French retailer operating over 12,000 stores across the world. It has outlets in France, Latin America and in the Indian Ocean region.

Casino Group digital transformation and innovation head Cyril Bourgois said: “With this building-block partnership, the Casino Group and its banners are going to speed up joint development of a highly secure, digital mobile payment solution that will be available in all of the Group’s stores in France.

“The goal is simple; we want to provide our customers with a fast, seamless, all-inclusive payment experience like the one already offered via the CasinoMax app.”

“The goal is simple; we want to provide our customers with a fast, seamless, all-inclusive payment experience like the one already offered via the CasinoMax app.”

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With this facility, customers can pay for their items with a single click on a smartphone. They will be able to use their loyalty benefits and vouchers, and get receipts in the app or by e-mail, thereby removing the hassle of carrying a purse or wallet to stores.

The partnership is aimed at leveraging new consumer behaviours so that they can be provided an omni-channel personalised shopping experience.

Customers will also be able to gain access to their loyalty account as well as enjoy their chosen payment methods and the associated financial services, such as payments in instalments, directly through the brands or the LyfPay app.

LyfPay chief executive officer Christophe Dolique said: “This partnership confirms the LyfPay solution’s unique positioning at the crossroads of the payment and retail ecosystems. By uniting leading retailers and financial services companies, such as BNPParibas, Crédit Mutuel, Auchan, Total, Mastercard and Oney, our solution will play an ever-increasing role in the day-to-day lives of consumers.”

The partnership will allow both the companies to develop and test new concepts by leveraging the brands within the Casino Group, and to offer cross-market solutions to different markets targeted by LyfPay.