First time ever, the number of Bancontact and Payconiq electronic payments made in a calendar year exceeds 2 billion

For the first time, Belgians have sailed past the 2 billion electronic payments in the same year mark using Bancontact and Payconiq payment methods. It was in November that Bancontact Payconiq Company recorded the 2 billionth payment made in 2022 with either a Bancontact card, the Payconiq by Bancontact app or a banking app with the mobile Bancontact and/or Payconiq payment solution integrated into it. In 2010, Belgians made 1 billion electronic transactions with Bancontact payments. Today, just 12 years later, that figure has doubled.

LOCAL PAYMENT COMPANY

The figure of 2 billion tells the extraordinary story of a local payments player that continues to maintain its long-established status as the Belgian’s trusted ‘friend in your pocket’ for making payments. This perception can also be seen clearly from the “Big Bancontact Payconiq Company Payment Survey” that Bancontact Payconiq Company commissions every two years from research firm iVOX, conducted among 1,000 Belgians. The results from the latest survey carried out at the beginning of September show that the majority of Belgians prefer payment apps developed in Belgium to foreign ones. So, 75,3% of all Belgian have a local banking app and/or the Payconiq by Bancontact app on their smartphone. When it comes to foreign payment providers, the percentages are between 5 and 9%.

MOBILE ONLINE PAYMENTS

Figures from Bancontact Payconiq Company further highlight how we are increasingly paying for our online purchases with a smartphone. In October 2022, we made 81.5% of our online payments by mobile, using Bancontact or Payconiq (which means that only 18.5% of payments are still made using a card and card reader). And the difference between now and before the pandemic is enormous: in October 2019, the ratio of online mobile payments was still at 55%, compared with 45% using a card and a card reader.