Paylib: Mobile-Based Instant Credit Transfer Going Mainstream

Paylib: Mobile-Based Instant Credit Transfer Going Mainstream


  • The seven largest banks in France just agreed to generalise P2P credit transfer through Paylib.
  • Goal: Let customers conduct instant account-to-account money transfers from their mobile phone.
  • Each bank will set their own transaction limits and applied fees.
  • They will be in charge of securing Paylib transactions and will remain the only contact point for all payments made through this mobile app.
  • How it works
    • The user opens the app and activates the Paylib entre amis option
    • He specifies the amount and recipient’s phone number
    • The transfer is conducted near instantly (less than 10 seconds)
  • For now, Crédit Mutuel Arkéa is the only institution enabling their customers to carry out instant Paylib-based transfers. Crédit Agricole should soon follow. The other banks are expected to be ready by this summer.

FOCUS: Instant Payment from BPCE

  • 1M instant transfers
  • 600,000 since the beginning of 2019
  • 400,000 by individual customers, 200,000 conducted by BPCE Assurance


  • This move might help banking institutions provide an alternative to cheques and stay in control of payment transactions as US Web giants increasingly focus on the P2P payment market.
  • A boost. Generalising mobile-based instant credit transfer services might also boost Paylib’s adoption, as well as help it become a reference on the French market for P2P mobile payments.


  • The French wallet entered the P2P segment in 2018 with a money transfer feature, yet this option didn’t involve real-time payments. It could soon enable over 2 million users to transfer amounts in less than 10 seconds.
  • Also, a rival service from the retail industry, Lyf Pay, just launched a free money pool solution for their 1.7 million users.
  • And just a few days ago, Apple launched their own credit card in partnership with Goldman Sachs and Mastercard. French banks must then improve their position on the mobile payment sector: they have to face threats from the US “Big Four” as they aim for financial services, especially in dealing with payments.

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