Consumers will receive their money directly on their Lydia account and can use the funds on Apple Pay, Google Pay, Samsung Pay, Lydia’s debit cards, or Lydia’s peer-to-peer payments. Fees on the credit 3.13% and include a one-time fee of €6.90 to €19.90, depending on how much money was borrowed.
During times of financial hardship—which the COVID-19 pandemic has spurred—many consumers are looking to take out loans to bridge payment gaps while they are temporarily off work. Apps like Lydia are a great resource to help consumers stay afloat.
Image Credit: Lydia