Telefoot says Villa have upped their original bid of €15m to €20m over the weekend to satisfy Lyon's demands.
Traore, who is a former Chelsea trainee, has already agreed personal terms with Villa.
OL are doubling their money, having signed the 25 year-old striker three years ago for €10m.
Last week, Traore told L'Etalon: "I am 25 years old, I have played wherever I have been.
"If my situation in Lyon doesn't change, I can't stay on the bench all the time. I need to play.
"I have no time to waste, I'm no longer an 18, 19 or 20 year old player. We'll see what happens."