Lydian Pay Launches on iPhone and Android, Allowing Any Smartphone to Be a Crypto Checkout

In this news:

Key takeaways

Lydian Pay is now available on the Apple App Store and Google Play.
The app allows merchants to accept crypto and settle in local currency without extra hardware.
It supports popular digital assets across multiple blockchain networks.

Mobile point of sale launch

NEW YORK — Lydian today announced that Lydian Pay, its point-of-sale app for merchants, is now available on both the Apple App Store and Google Play. The announcement enables a digital asset checkout for every small business or retailer using a smartphone or tablet as their POS.

Lydian Pay requires no card reader, no contract, and no new hardware. A merchant downloads the free app, completes verification, and takes payments on the device the business already uses. The customer pays from their digital asset wallet while the merchant settles the transaction in their local currency and into their existing bank account.

Addressing merchant demand

Lydian Pay is addressing the growing demand from merchants for accessible methods to offer digital asset payments at the checkout. In a survey of US payment decision-makers, 88% of merchants said they had received customer inquiries about paying with crypto, and 69% said customers ask at least once a month. In the same survey, 90% said they would be likely to accept crypto if the setup process were as simple as accepting credit cards.

The launch of Lydian Pay aims to lower the barrier to entry that smaller merchants face when it comes to accepting digital assets as payment. While half of US merchants with more than $500 million in annual revenue already accept digital assets, only a third (34%) of small businesses do the same. This is not due to merchant appetite but because of the costly integration work that only the largest merchants can absorb.

Flexibility and platform features

With Lydian Pay, each merchant decides which wallets, assets and networks to accept. There are no chargebacks to contest weeks later, and merchants keep the refund policy they already publish. The app works across every device a merchant may use – meaning a business running an iPad at the till can still access the same set of records from Apple or Android handsets – with every payment logged in the Lydian Merchant Portal for reconciliation. Lydian does not take custody of merchant funds, and access to the app is protected by the device’s own authentication and by verification on the merchant’s Lydian account.

“Merchants have been asking for this functionality by their own customers, and the answer has always involved buying or upgrading their platform or POS,” said Carl Grimstad, CEO at Lydian. “Lydian Pay runs on whatever technology is already in use on the counter, whether it be an iPhone, an iPad, or an Android handset. The money arrives in local currency, in the account they already bank with. We are not asking a business to change how it operates. We are offering the opportunity to download an app and give customers what they are asking for.”

Lydian Pay accepts popular assets like USDT, USDC, BTC, ETH and TRX across Ethereum, Tron, Polygon, Solana, Arbitrum, Base and Bitcoin, with the full list published at lydian.com. Lydian Pay is available to merchants in eligible markets on the App Store and on Google Play.

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