Amsterdam, the Netherlands, April 20, 2017
Dutch banks join forces for European payment service Payconiq
Today, Dutch banks ABN AMRO, ASN Bank, ING, Rabobank, RegioBank and SNS announce a joint initiative to launch payment app Payconiq in the Netherlands this summer. Payconiq is a new mobile payment service that enables online, on-the-go and one-on-one payments. The Dutch launch follows a successful pilot phase and introduction in Belgium, with ING, KBC, CBC and Belfius banks supporting the platform.
Payconiq facilitates payments by integrating all payment methods in the app: online, on-the-go and one-on-one. Payments can be executed to online merchants, bricks-and-mortar shops as well as individuals. The app connects directly to the client’s checking account at participating banks. IBAN details for payments between family and friends are no longer required, as these are generated automatically after selecting the beneficiary from a contact list in the phone.
Collaboration between banks
ABN AMRO, ASN Bank, ING, Rabobank, RegioBank and SNS will actively support Payconiq in the Netherlands. The association between Payconiq and the banks anticipates the introduction of the new European Payment Services Directive 2 (PSD2), due late 2018. This directive will allow clients to permit third parties to verify payment details with banks and make payments from the client’s checking account.
‘Numerous payment apps have been developed, but not all of them work in regular shops, web shops, between individuals as well as internationally’, says Payconiq CEO Duke Prins. ‘Our initiative anticipates digitalization as well as the upcoming changes in the European payment regulation. The successful pilot and subsequent launch in Belgium has increased our ambition to effect big changes in other European countries as well. The collaboration with Dutch banks is a promising step for Payconiq.’
Available in the Netherlands this summer
Payconiq makes executing payments surprisingly simple. There is no need for entering long IBAN numbers, as beneficiaries can be selected from a contact list. Shops are identified through geolocation or by scanning a QR code. Online payments can be made via QR code or a direct link to the Payconiq app.
Over 25,000 shops are actively connected to the system in Belgium. In the Netherlands, payments with the app will be possible in select web shops and stores this summer, when a direct link with Dutch banks will be available.
Note to the press
Payconiq is a European mobile payment initiative headquartered in Amsterdam, the Netherlands, with subsidiary offices in Brussels and Hasselt in Belgium. Initiated in the ING innovation lab, tested among the student population of Leuven, Belgium, currently more than 25,000 Belgian shops are connected to the app. Payconiq’s ambition is to roll out its service across other countries in Europe. Payconiq is supported by ABN AMRO, ASN Bank, ING, Rabobank, RegioBank and SNS in the Netherlands, and ING, KBC, CBC and Belfius in Belgium.
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Brussels, 2 December 2016
Belfius joins ING and KBC in Payconiq
No card, no terminal, no contact: Paying with your smartphone has never been easier, thanks to Payconiq
Belfius, ING and KBC/CBC are working to promote fully mobile payments as a practical and secure alternative to cash payments. With Belfius now onboard, the three banks will continue to develop Payconiq solutions and to add loyalty programmes. Accepted in more than 11,000 shops in Belgium already, Payconiq will also be integrated in the Citie platform supported by Belfius, bpost and Proximus. This agreement will help increase the share of mobile payments via smartphone further and to promote the use of digital loyalty programmes.
75% of Belgians have a smartphone and Belfius, KBC and ING together have nearly two million customers who make an active and regular use of Mobile Banking for an ever wider range of transactions. Through this partnership in Payconiq, Belfius, KBC and ING want to provide shopkeepers and consumers with an innovative, secure and inexpensive cardless and terminal-less payment solution that meets their needs in an increasingly more mobile and constantly changing world.
Easy, fast and inexpensive
Available from App Store and Google Play, the Payconiq app can be used to reimburse a friend who paid your share of the restaurant bill, to pay for a visit to the doctor, for purchases in a shop or (shortly) on the Internet, etc.
Payconiq does not require a terminal to be installed and the charges per transaction billed to the shopkeeper are particularly low. Moreover, there are no additional costs. Furthermore, Payconiq will soon be integrated in the Citie platform, enabling users to benefit from discounts, advantages, points or coins granted under loyalty programmes by partner shopkeepers.
The app is accessible to all consumers with a current account, irrespective of whether they are customers at Belfius, ING or KBC. It can be used to make payments rapidly and free of charge everywhere, at all time, without contact. The beneficiary is recognised automatically by the app, and his or her account number does not even have to be entered any more. The user simply indicates the amount to be paid, then confirms the transaction with his or her PIN code. The operation is then displayed in near real time on the beneficiary’s screen (PC, smartphone or tablet).