Infotech

Skyrock radio launches into payment



Posted on Dec. 2020 at 18:57Updated 13 Dec. 2020 at 19:10

Would payment also be the El Dorado of the radios? This is in any case what Skyrock seems to believe, the favorite station of young people, which announces this Monday the launch of Yax, its own mobile payment solution, created in partnership with the French fintech Lyf Pay.

Skyrock has always had a strong digital culture “, Underlines Pierre Bellanger, the founder and boss of the radio station whose Skyblog platform marked a generation of teenagers in the 2000s.” One of the first social networks in the world », Proclaims the station’s press release.

With Yax, the radio opens a new chapter in the monetization of its community, which has some 3.4 million daily listeners. Directly integrated into the radio application – which accounts for nearly 20 million downloads, she assures – the payment service will allow its users to exchange money directly – in the manner of the Lydia or PayLib application – to create prize pools or to benefit from promotions during group purchasing campaigns.

Asian model

Skyrock does not hide it, the source of inspiration for its payment solution is in Asia. ” Chinese applications have shown it: if you have a community, you have the capital to develop a galaxy of services in which payment is a central element. », Explains Pierre Bellanger, citing WeChat in particular.

Chinese Tencent’s messaging service has thus become a great application bringing together a number of financial or practical services, such as the possibility of booking trips or making a doctor’s appointment. Recently, it was Whatsapp that launched into payment in India.

We are convinced that the adoption of mobile payment is linked to the added value of the application that offers it, corroborates Frédéric Leclef, Deputy Managing Director of Lyf Pay. This added value can be found in particular in the fluidity of the customer journey, the number of services offered, but also in promotional offers.

Keystone

The keystone of Yax’s economic model is indeed based on group purchases of goods at discounted prices, which the radio will advertise. These campaigns will focus on a number of predetermined products that Yax users can buy from the app, then pick them up in store. Yax will thus give a boost to the main source of revenue for radio: advertising campaigns purchased by advertisers. Primarily targeting distributors, these will be all the more expensive the more users go to the store.

Not only will distributors be able to accelerate their sales, but they are also guaranteed to have a visit to the store., enthuses Pierre Bellanger. On the other hand, we are strengthening the purchasing power of our audience. Skyrock and LyfPay estimate that Yax can reach 400,000 users in 2024 and generate 150,000 sales for a business volume of 50 million euros.

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