Record number of mobile and contactless payments with Payconiq & Bancontact
Beeping and tapping: the new ways to pay.
Belgians are increasingly using their smartphones to pay. In the first eight months of this year, they have already made as many mobile payments as in the whole of 2020, according to figures from Bancontact Payconiq Company. The contactless card has also gained a prominent place in our wallet: for the first time, there are more contactless Bancontact payments in shops than traditional Bancontact payments where you insert the card in the payment terminal and always enter your PIN code.
Between January and August, Belgians used their smartphone 125 million times to pay. Compared to the same period last year, this is a growth of 69%. Last month alone they ‘beeped’ some 18 million times with the Payconiq by Bancontact app or a banking app that has integrated the Bancontact or Payconiq mobile payment solution.
In August, there was even a symbolic transfer from traditional to contactless card payments. In 50.8% of all Bancontact payments in shops, the card was tapped against the terminal, i.e. contactless. It is the first time that more contactless Bancontact payments were counted than traditional Bancontact payments where you insert the card in the payment terminal and always enter your PIN. Meanwhile, 86% of all Bancontact cards are equipped with the contactless payment function. It is a hygienic way of paying for purchases, as you do not (usually) have to touch the keyboard anymore.
With the above figures, it is not surprising that the Payconiq by Bancontact app was already downloaded some 1.2 million times in 2021. Some 4.8 million Belgians have made mobile payments in the first 8 months of this year with a payment app that offers Payconiq or Bancontact as a payment method.