Bancontact Payment

One of the striking things about this brand is the name. It’s no surprise why it’s named ‘Bancontact’. A further dive into the brand’s services will give you a better understanding much later. 

Bancontact is one of the companies from Belgium leading the pack when it comes to contactless payments. Bancontact is so popular in Belgium that it has over 15 million cards in use. It’s one of the most preferred payment choices by Belgian nationals. 

The Bancontact brand was established in 1989, however, in 2018, it merged with another payment company, Payconiq to form what is now known as the Bancontact Payconiq company. Bancontact is headquartered in Belgium.

A Dive into Bancontact Payconiq offerings

Bancontact’s offerings can be categorized into two. There is the private and the professional category.

For private, that is, individuals, there are four use cases of Bancontact’s payment services.

Paying little amounts

For individuals who want to make little payments, say €50 or less, the Bancontact card is capable of making that happen. Even better, Bancontact reduced the rate it charges merchants for such transactions to less than €25.

Contactless payments 

With this service, customers don’t need to swipe or punch in figures into a POS before they can make payments. With contactless payments, all it takes is proximity. Here is how it works.

First, the merchant must have gotten a machine that supports contactless payment. Secondly, the payer also must have a card that can perform contactless transactions (The Bancontact does this). 

To pay, simply move the card near the part of the machine bearing the ‘contactless symbol’. That’s all. Once the payment has been made, a confirmation will appear on the machine. 

There is, however, an exception to this method of payment. It only works for payment less or equal to €50. For transactions above €50, the payer will have to manually enter their card pin. 

Paying online

Bancontact users can buy and pay for anything from the comfort of their rooms. This service can be used on a computer or a phone. For example, say you are shopping online, to make payments, simply choose Bancontact when checking out. Then input your card details on the payment page. That’s all. 

Alternatively, to use the online payment services, download the Payconiq app. To pay with it, choose Bancontact during checkout. This prompts the app on your phone to open up. Confirm the amount and pay. The same process is applicable when you are shopping from a desktop computer or laptop. 

Lastly, if you are shopping from a merchant that accepts Bancontact, you can pay by simply scanning a QR code and entering the code, or doing a fingerprint or facial recognition. 


This is an innovative way of paying for things. It involves paying with accessories like a smart watch, ring, bracelet, or even a keychain. 

This works just like a contactless card payment. The wearables already have inbuilt chips just like a card. It also, however, can only be used to make payments of less than €50.

The professional category caters to businesses of all kinds. This includes online stores and physical stores. To opt for this service, the business will have to request the Bancontact’s payment button or a payment terminal (for a physical store).

Benefits of using Bancontact

  • It allows you to pay for items on the go
  • Swift payments
  • Because of its popularity, it increases your chances of making sales
  • Paying via wearables is fun and fashionable
  • Multiple verifications ensure the security of your funds

How to connect

  • To start using Bancontact, download the app from the Play Store.
  • Alternatively, go to the Bancontact’s website 
  • Switch to the  Payconiq by Bancontact tag
  • Click on the ‘Download the app’ button
  • Sign up and start exploring.
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