Digital Banking

Marqeta partners with Lydia to power digital banking app Sumeria

Photo: Adobe Stock

June 14, 2024

Marqeta, a card issuing platform, announced it will power the digital banking app Sumeria, which was launched by Lydia Solutions, a French payments company. Marqeta will provide its card processing platform to Sumeria to offer tokenized virtual and physical cards to customers, according to a press release.

Sumeria offers an online account with 4% interest on cash balances for the first three months. It will also allow European customers to keep the same account even if they move to another country.

"We're proud to partner with Sumeria to help them create customized banking experiences for their customers and continue to expand their offering into new markets across Europe," Marcin Glogowski, SVP, managing director Europe and UK CEO at Marqeta, said in the release. "Lydia has cultivated a completely unique and refreshing experience with its peer-to-peer payments app, and this same attention to detail and ease of use will translate well into the banking world."

"Even though many traditional banks now have digital offerings, they're still not the personalized, digital-first experiences that people are seeking from their banking partners," Cyril Ciche, CEO at Lydia, said in the release. "Marqeta has enabled us to challenge the norms of traditional banking and payments and create more flexible and streamlined experiences for our cardholders. We needed a partner that could help us scale and launch in new countries to help meet our ambitious goals for Sumeria – Marqeta has been a tremendous partner in our journey so far, and we're excited to continue our work together in this new endeavor."