Payconiq joins forces with Digicash for Luxembourg expansion

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2 August 2017

Making and receiving mobile payments is about to become reality throughout all of the Benelux, as Payconiq joins forces with Digicash Payments, the company behind Luxembourg’s mobile payment product Digicash.

Payconiq, a mobile payment initiative originating from ING’s innovation lab, is set to expand into Luxembourg following the acquisition of Digicash Payments.

By combining forces with Digicash, Payconiq is building one of the most advanced mobile payments setups in Europe, and further enhancing the consumer-experience in online, on-the-go and peer-to-peer payments.

Duke Prins, CEO of Payconiq, explained in today’s press release how the similarity in philosophies, business setups and product architecture makes this is a great example of a Benelux-partnership that will lay a strong foundation for European digital payments.

Gaining traction

Mark Buitenhek, ING’s global head of Transaction Services, asserted this expansion of Payconiq into Luxembourg is another sign that the payments platform is gaining traction.

“After the success in Belgium and with the announcement to launch in the Netherlands only a few months ago, this is the third country in which Payconiq will be operational."

“The pace of growth is increasingly important in a rapidly changing market, such as payments,’’ stated Mark.

Benoit Legrand, ING’s global head of Fintech, said Payconiq is an innovation from ING and we’re proud to see the growth of this fintech.

“The platform clearly serves the need of both merchants and consumers to handle payments quickly and securely."

“Payconiq has been able to scale-up rapidly and ING will continue to support its growth, as we have with the acquisition of Digicash.’’

Mobile savvy

Payconiq’s future appears bright in Luxembourg, where more than 25 percent of the population is already using mobile payment services provided in co-operation with Luxembourg’s banks.

In Belgium, the Payconiq platform is supported by Belfius, ING and KBC/CBC. In the Netherlands, where Payconiq is to be launched in the near future, the app is backed by six major banks: ABN AMRO, ASN Bank, ING, Rabobank, SNS and RegioBank.

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