LYDIA

Managing cash or non-cash employee benefits imposed by regulation or work environment/culture, is one of the major competencies of Lydia. Flexible revenue management models (commission from merchant, service fee from customer), comprehensive spending controls, offline operation option, point or currency based benefit modelling are critical features to be envisioned when running benefit programs for meal/food, healthcare, childcare or similar. These programs are quite popular in Latin America and Europe.

Lydia could be used in gift card programs where the customer is a corporation and the cardholder has no direct financial relation with the merchant and cards are bought/used by the cardholder. Public Social Programs are similar to employee benefits in many ways. Financial processes and revenue models are different than employee benefits. Spending limits, point or currency based purchase options are often needed by program operators and organizations.ir.

Lydia was designed and developed to be the primary business application for prepaid service providers and program managers which is like employee benefits, incentive and reward, gift card and public social programs.

Public institutions (municipalities, transport operators) and NGOs who are running their own programs with or without merchant interaction; can use Lydia in their operations. Adaptation of validators or other types of terminals is a straightforward process with Lydia’s standard interface protocols. Lydia will also provide flexibility and freedom of choice for beneficiaries and ease of control and transparency for the organization.

In environments where cash&funds management capabilities of banks are required but specific business flows and closed loop payment system implementations are crucial for the customer, banks could utilise revenue from key accounts where they can differentiate with a non-standart solution. Co-branding of a private payment scheme on EMV cards with Java technology creates a good opportunity.

Lydia could be used by operators to manage and run their own card programs or run a program on behalf of their customers.