Skrill and NETELLER Ensure Even Simpler Transactions with Payconiq by Bancontact

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February 6th, 2024
Back Skrill and NETELLER Ensure Even Simpler Transactions with Payconiq by Bancontact

Payconiq, a provider of mobile payments and developer of payment processing platform has made a significant step towards ensuring smoother payments. Ensuring better coverage and access to a wider range of clients, the company tied knots with Skrill and Neteller, two efficient e-wallets largely popular among online casino players.

To celebrate the occasion, the provider came up with quite an interesting offer, aimed predominantly at consumers from Belgium. For a limited time, players who make deposits by using the Payconiq by Bancontact app won’t be charged any fees.

Efficiency, Security, and Accessibility

As a result of the milestone agreement, consumers from Belgium can pay with their Payconiq by Bancontact app when depositing into their Skrill or Neteller wallet.

Some of the benefits provided include:

  • Faster and simpler transactions are completed in a matter of seconds
  • Higher level of security, thanks to encryption and other security measures; with their card linked to the app, customers won't be required to enter their card number or CVV anymore
  • Great coverage, as this payment method is accepted by thousands of merchants

According to the figures published a year ago, in February 2023, payments with Bancontact and Payconiq went up by an impressive 54.5%. The impressive stats confirm that Belgians are starting to feel more and more confident with contactless payments.

Compared to 2018, in 2023, consumers made 8 times more mobile payments, resulting in the number of transactions amounting to nearly 275 million. In December 2022, 82% of online payments were made using the Payconiq by Bancontact app or with a banking app incorporating Bancontact and/or Payconiq. The remaining share goes to the transactions completed via a bank card and card reader.

The thing worth mentioning is that at the end of October 2023, the European Payments Initiative (EPI) announced the successful closure of the acquisition of two payment suppliers. One of them is the Luxembourg-based Payconiq International, and the other is the Dutch payment solution iDEAL.

User-Friendly Payment Solution

Aware that payment habits are changing fast, the innovation-driven Bancontact equipped its catalog with multiple convenient services, allowing consumers to make payments via the following channels:

  • Electronically with the Bancontact card
  • By using mobile via the Payconiq by Bancontact app
  • Via card, for withdrawal of cash with their trusted Bancontact card

Launched in 2016, the Payconiq by Bancontact app includes a spectrum of convenient features, allowing consumers to purchase tickets, shop online, or even pay back friends via a contact list.

There’s a maximum amount per day for each card included in the Payconiq by Bancontact app. Consumers can pay up to a maximum of € 2,500 (or € 250 for payments between friends) and receive € 500 per day and card. The daily limit for the total amount of all transactions using all cards is € 2,500 (maximum of € 250 for payments between friends), whereas the sum they can receive goes up to € 500.

As mentioned earlier, Payconiq guarantees the highest level of security, as it operates under the supervision of the National Bank of Belgium. Consumers can be at ease as everything runs in line with the highest level of security and compliance with industry regulations.

“a significant step towards ensuring smoother payments”

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