Edonys revolutionizes meal vouchers leveraging LUXHUB’s Open Banking capabilities
Edonys (the new official brand of VIREO) just announced it has developed a cashback technology to serve employers, employees and merchants. We, at LUXHUB, are happy to support Edonys as its tech partner: Open Banking is now also powered the meal vouchers revolution in Luxembourg.
With new regulations on meal vouchers taking effect since January 1, 2024, this employee benefit is about to undergo a profound change. As explained by Olivier Rozet, Chief Experience Officer at Edonys: “With our new solution, Joybiiz, employees no longer need a dedicated bank card to spend their vouchers. It’s all based on the principle of cashback and automation. An innovative solution that reduces costs for employers and eliminates them altogether for merchants”.
The Edonys team (completed by Technology Partner) is already a well-known Fintech actor in Luxembourg. It has notably developed myTax, the digital assistant that enables any citizen to generate his or her tax return by answering simple questions. Edonys is also a partner of KPMG Luxembourg, Spuerkeess and, since 2024, Foyer. And with the recent creation of Joybiiz, the fintech now aims at brining a breath of fresh air to the world of employee benefits.
Jonathan Marroyen, CEO of Edonys, highlights “that employers and retailers alike are complaining about the fees charged by current meal voucher providers. And the switch to bank cards hasn’t solved this problem. We therefore responded to a specific market demand and obtained the highly valued support Luxinnovation. It was also important for us to go beyond reducing fees. We wanted to bring new added value thanks to our expertise in digitalization.”
The cashback technology applied to meal vouchers
From now on, employers can simply manage their meal voucher budget in the Joybiiz application dashboard (web + mobile) and allocate it to their employees. Employees are then invited to create a Joybiiz account and securely connect the bank account(s) they use for their daily expenses.
Each time they will visit a business eligible to receive meal vouchers, all they will have to do is use their usual means of payment (bank card, Apple Pay, …). The relevant transactions will then be automatically identified securely through the categorization model developed by LUXHUB, and reimbursed by Joybiiz to the bank account from which the expenditure was made. Eligible bank accounts are currently from Luxembourg, France, Belgium, Germany and soon Portugal.
Claude Meurisse, CEO of LUXHUB, adds: “with Joybiiz, Edonys is reinventing meal vouchers by taking advantage of the many opportunities offered by Open Banking”.
Reduced fees for employers and fees waived altogether for merchants
“Where current providers charge employers fees of up to 5%, we have reduced these to a maximum of 2%, adding further value-added features to be discovered on its website,” underlines the CEO of Edonys.
And on the other hand, for merchants, Edonys has chosen to waive all fees, representing a considerable gain for the sector and enabling the fintech to work with 100% of businesses eligible for meal vouchers.