Revolut Pay brings simplicity to Lyca Mobile payments

Lyon , Aura France - 04 24 2023 : Lyca mobile logo text and brand sign facade entrance store mobile virtual network operator lowcost in windows door shop retail French.
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Revolut Pay has marked its entrance into UK telecommunications through a partnership with Lyca Mobile

Aiming to transform the payment experiences of Lyca customers, the agreement includes automated payments for subscriptions and bills, real-time notifications for payment statuses and one-click top-ups.

Notably, these features won’t require Lyca customers to repeatedly enter bank details, a common friction area for users of mobile payments, especially those on a ‘pay as you go’ contract. 

Alex Codina, General Manager of Acquiring at Revolut, said: “At Revolut, we’re obsessed with creating the best possible customer experience. We’re delighted to partner with Lyca Mobile and bring all the efficiency benefits of Revolut Pay to the world of subscription payments as we expand into the telecommunications sector.”

Both companies have already seen significant success, with Revolut Pay’s payment system achieving a 100% authorisation rate for Lyca Mobile transactions in its first month of operation. 

Furthermore, the fintech has stated that 80% of Lyca Mobile customers using Revolut Pay have adopted automatic top-ups and subscriptions, which it believes indicates a strong demand for new solutions. 

Frank Wiemann, Group CMO at Lyca Mobile, said: “Revolut’s focus on efficiency and innovation aligns seamlessly with our mission to deliver unparalleled connectivity solutions. 

“This partnership is already simplifying the way our customers manage their payments, offering convenience and peace of mind. We’re excited to continue enhancing their experience with cutting-edge technology.”

As mentioned above, this partnership marks Revolut’s first move into telecommunications in the UK. Elsewhere, the neobank has flirted with expanding the sectors that it works in this year, such as recently confirming its move into private banking to Payment Expert earlier this week. 

It is set to be a busy year for the UK-based fintech, revealing its 2025 roadmap last November. Plans include launching digital mortgages in Lithuania, Ireland and France, rolling out branded ATMs in Spain, and expanding its credit services like overdrafts. 

Furthermore, in December, Revolut announced its goal to become the first global digital bank to obtain a banking license in New Zealand as part of its ongoing efforts to disrupt the global payments industry.