To differentiate themselves from the web giants who are launching into mobile payment, Fivory has chosen a strategy: to combine both transactions and loyalty programs. Users pay for their purchases via their phone, while being offered discounts after a certain number of visits to a merchant. In addition, the application also offers to discover traders and follow their news as well as their current special offers.
“Fivory, if we summarize it in three bricks, it is a payment tool, a medium – because one can communicate through this application as a merchant with his consumers – and a CRM which is available through tools” , explains to Frenchweb Christophe Dolique, the founder. With such a positioning, the company is positioning itself in a market coveted by other players such as S-Money, launched by the BPCE group, or the LePass application (for geolocated offers).
To pay, the company offers a subscription model for small traders or with a price per user for large brands. The start-up is also working on tailor-made offers with the organizers of events, such as festivals. Since its launch in June 2015, Fivory claims more than 660 merchants using its solution. But to go further, the company has entered into agreements with large groups such as Total, which took a stake in the company this summer, or the Crédit Mutuel-CIC group. Other actors should soon be announced.
Interview with Christophe Dolique, the co-founder of Fivory:
Co-founder: Christophe Dolique
Launch of the service: 2015
The head office : Strasbourg
Activity: mobile payment