Bancontact
With 15 million in circulation, there are currently more Bancontact cards than there are Belgians. This makes it the market leader both online and at the point of sale. Bancontact is connected to 20 of the Belgium's banks, and its popularity is set to continue with more shoppers using its recurring payment solution.
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Dominant payment method in Belgium (±65% of BE Ecom)
Ensured security through strong customer authentication
Optimized user experience leveraging banking apps for authentication, leading to high conversion
Supports omnichannel shopper journeys
Payconiq by Bancontact
Payconiq by Bancontact
Enables merchants to receive payments based on a QR code. Shoppers scan this QR code via the Payconiq By Bancontact app or other payment apps supporting Payconiq on their smartphone and then confirm the amount to be paid.
Optimized for conversion: Payconiq By Bancontact has an optimized user experience leveraging banking apps for authentication, leading to high conversion
Preferred by shoppers: used for 80% of all Bancontact e-commerce
Great reach: supported in most of the major issuer apps natively, as well as the separate Payconiq By Bancontact app
How it works
Shopper proceeds to checkout
Shopper selects Bancontact card from the list of payment methods available
Shopper can enter now the details of the Bancontact card
Shopper confirms payment though a card reader
Payment complete
Shopper selects Payconiq by Bancontact from available payment methods
QR code appears on the checkout page
Shopper scans QR with the Payconiq supported app
Shopper confirms payment with PIN, fingerprint or face ID
Payment complete
Shopper proceeds to checkout
Shopper selects Payconiq by Bancontact from list of payment methods available
Shopper is redirected to the Payconiq by Bancontact-app and is asked to authenticate (fingerprint/face-ID/PIN) to complete the payment
Consumer is redirected back to the merchant app & Payment is confirmed
Features
| Payment type | Cards | |
|---|---|---|
| Channel | Online | |
| In person | ||
| Available in | Europe | Belgium |
| Currencies | Settlement currency | EUR |
| Processing currency | EUR | |
| Other | Refunds | |
| Partial refunds | ||
| Multiple partial refunds | ||
| Multiple partial captures | ||
| 3D Secure | ||
| Chargebacks | via SEPA direct debit | |
| Local entity required | ||
| Sales day payout | ||
| Settlement delay | 2 days | |
| Recurring | Via SEPA direct debit |
How to integrate payment methods
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