Bancontact Payconiq Company:
62% more mobile payments in 2021
Belgians have adopted a totally different way of paying for purchases since the start of the Covid-19 crisis. That’s clearly demonstrated by the latest stats from Bancontact Payconiq Company. Payments made with smartphones and contactless bank cards continued to gain significant ground in 2021. The number of mobile payments rose by no less than 62% while, for the first time ever, we paid for our in-store purchases more often by tapping our card than by inserting our card into the payment terminal. And Bancontact Payconiq Company says that QR codes will give mobile payments an additional boost in the coming year.
Belgians broke all sorts of electronic and mobile payment records in 2021. For instance, we made more than 1.9 billion payments using the Bancontact card, the Payconiq by Bancontact app and the banking apps that integrated the payment solutions Bancontact or Payconiq. That was 16% more than in 2020, an all-time record. And the records don’t just stop there, because 2021 saw even more striking trends.
In 2021, the number of mobile payments made using the Payconiq by Bancontact app or banking apps that offer the Bancontact or Payconiq solution rose further to 204 million, which was a whopping 62% more than in 2020.
In 2021, the number of contactless payments rose to 822.7 million, which was an increase of 85% compared with 2020. And in August, we reached a historic milestone when, for the first time ever, we collectively paid for purchases in-store more frequently (50.8%) by tapping our Bancontact card against the payment terminal than in the traditional manner (by inserting the card in the payment terminal). And in December 2021, 54% of all in-store payments with the Bancontact card were contactless payments. So, this new payment habit is definitely catching on and the trend will undoubtedly continue this year.
How are we paying for our online purchases now? In total in 2021, Belgians made 224 million payments online via Bancontact or Payconiq – or 35% more than in 2020. Our online payment habits are also clearly continuing to change, with card readers being ignored more and more. In December 2021, 78% of all online payments were made with a smartphone, via Bancontact or Payconiq.Which was another impressive rise compared to December 2020, when 66% of our online purchases were paid for using a mobile.