LG offers payment in cryptocurrency via the Lyzi application

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How about buying your next car in cryptocurrency from LG Groupe? Ludovic Garcia, the founder of the LG group has just confirmed the availability of the Lyzi application in its 24 sites spread over Spain, New Aquitaine and Occitania.

Lyzi application to buy or rent from LG in cryptocurrency

The Lyzi solution is a French cryptocurrency payment application, available for download on all types of Smartphones. It is a platform fully secured by the Financial Markets Authority. Thanks to this modern solution, transactions will now be done in just a few minutes and in complete security. The application will accept 22 virtual currencies, including the famous Bitcoin, Ethereum and Avax. The LG Group specifies that transactions in cryptocurrency will be accepted at the level of all available services:

Purchase of car or spare parts.
Car rental (through LG Rent).
Vehicle repair.
This cryptocurrency payment solution also applies to all types of vehicles (commercial vehicles, trucks, motorcycles) of all brands offered by the LG group (Smart, Indian Motorcycle, Mercedes-Benz, Yamaha, Ineos, Fuso, Jeep ).

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Comment utiliser Lyzi ?

At checkout, the customer must specify that they choose to pay for their purchases through the Lyzi app. After defining the cryptocurrency of your choice, the application automatically converts euros/crypto. Once the transaction is successful, the dealer immediately receives the amount in euros on his professional wallet, at no additional cost. For the LG group, integrating this new method of payment into its usual methods is part of an essential innovation strategy in the era of web 2.0.

“We have always been interested in the evolution of means of payment  But we were facing with several obstacles such as the variation of cryptocurrency and the traceability of the origin of funds. It was out of the question that we are accused of money laundering. And we were going around in circles. Until I finally discovered Lyzi while reading an article […] We have witnessed the beginning of the digital shift. The development of the Internet has already redefined the expectations and needs of consumers at the heart of the customer experience. So, why not buy a spare part or a vehicle in cryptocurrency, after all it is a logical continuation? Our group of companies has always been searching for innovations and new ways to adapt to the fast changing market realities. We hope to  make this new customer experience and the act of purchase itself more fun, simple and fluid.”
Gérald Imbert, Managing Director of LG Group.

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A fully secure payment solution

The Lyzi application is an application that was created in partnership with the service provider Zebitex, a subsidiary of the Digital Service group launched in 2016. It is a French exchange platform regulated in France and throughout Europe. Thanks to this application, users will be able to carry out all kinds of financial transactions, including opening a payment account for individuals and professionals. Launched in 2018, this cryptocurrency payment solution is registered as service provider on digital assets (PSAN) with the Financial Markets Authority (AMF), under No. E2021-012. Payment service provider (PSP) with the Financial Sector Supervisory Commission.
These control bodies notably guarantee the security, non-volatility and non-traceability of the funds. Important points that the LG group absolutely wanted to clarify to reassure its consumers and protect the image of the brand.

“We are able to remove all the blockers. We benefit from a technology that allows us to validate the transaction at time T according to the value of the price of the asset. We guarantee this validity for 5 minutes and the risk of volatility, upwards or downwards, we take it under the service fees, which vary between 1 and 3%, at the act of payment. But it is neutral for the merchant [… ] We have three levels of identity verification through KYC and KYT which means in French “Know your users” and “Know your transactions”. It is an obligation. Clearly, the wallets which would have been used for scams will be automatically blocked”.
Damien Patureaux, founder of Lyzi

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Lyzi: a reliable and sustainable payment solution

Lyzi enters the French automotive market thanks to the partnership with the LG group. As founder of the application, Damien Patureaux says – this is gonna be the the  first application of such scale and this is only a beginning.  After conquering nearly 1,500 merchants in France and Europe, including the Beaugrenelle shopping center in Paris and a real estate agency, Lyzi now presents itself as a “simple and accessible” device, ready to use. For its founder, Lyzi is much more than a reliable payment solution via cryptocurrency. It is also a 3.0 loyalty program that limits the risk of volatility in the price of cryptocurrency. Transactions are fully supported by the application and the transfer to the trader’s business account is done every day and immediately, in euros, free of charge. Gas fees are payable by consumers, but they decrease relatively according to the amount of payments made and the frequency of purchases. The Lyzi solution even makes it possible to recover these costs through “cashback”, which is also another  kind of 3.0 loyalty program.

“We present ourselves as a blue, white, red solution in a context of very globalized economic conditions with regard to the macroeconomics or the war in Ukraine and we are very happy to be part of the LG adventure […] We will be the first ever! This will allow us to reach a community that we might not know yet, to bringing it the  recognition and consideration. Making online payment more comfortable and available will also help us to  bring new customers in Europe. The idea is to dare. Dare to dust off, dare to offer new services and this is only the beginning! We could have offered the fourth tire free for three purchased, but that’s not my job I prefer to be innovative LG is a dynamic group that is not afraid to break the codes […] It is the first concession of the group to have passed the Mercedes Architecture Retail standards, which completely redefines the customer journey , and this service falls under this politic. Doing it here made more sense […] It’s like reversing the surplus that is redistributed according to the use of services. It’s a financial incentive: the more you use these services, the better it is. This is the principle of win-win”.
Damien Patureaux, founder of Lyzi

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