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What is Bancontact and how does it work?

If you want to conquer the Belgian market and welcome as many shoppers as possible, Bancontact is your new best friend. In this blog, we tell you everything you need to know about this popular payment method.

October 11, 2022
 ·  2 minutes
What is Bancontact and how does it work?

What is Bancontact?

Bancontactis by far the most popular payment method in Belgium, both in-person and online. With 17.4 million units in circulation, there are more Bancontact cards than Belgians.

Bancontact is linked to 20 Belgian banks and its popularity is only increasing. Bancontact has added a new recurring payment solution to their product range called Wallet Initiated Payments, or WIP.

Was Bancontact previously Mister Cash?

Yes, Bancontact was previously called Bancontact/Mister Cash. They simplified their name and logo to Bancontact in 2016.

How does payment with Bancontact work?

A Bancontact user can pay online as well as in person (contactless) with a Bancontact card. They can also pay using Payconiq through the Bancontact app with the help of a generated QR code. An online payment with Bancontact takes place via a secure connection in the customer's internet banking environment.

What are the advantages of Bancontact?

If your company wants to enter the Belgian market, you simply cannot do without Bancontact.

Take for example Verfwinkel.nl; the closest thing you can find to a candy store when it comes to paint supplies. The company is the largest online paint supplier in the Netherlands and is ready to conquer the Belgian market as Verfkopen.be.

'We want to expand in Belgium in the coming year,' confirms Ecommerce Manager Mark Heesters.

'With Adyen, we can offer Bancontact in no time, so that we can also welcome our Belgian customers with open arms.'

Did you know?

  • Bancontact processes an average of 150,000 online transactions a day.
  • The payment method is very suitable for omnichannel customer journeys.
  • Bancontact is a guaranteed payment method. This means that the payment is confirmed immediately and the customer cannot reverse the payment.

How can you offer Bancontact as a payment method?

Adyen offers a full-service Bancontact solution, including reconciliation, reporting and settlement services. With Adyen and Bancontact, you make the shopping experience for Belgian shoppers as easy and fast as possible.

And when you’re ready to expand to other countries, you get access to all relevant localpayment methodswhen you partner with Adyen.




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