The Payconiq by Bancontact app is widely used for omnichannelmobile payments. Significantly, users make those payments in-store, online and between friends. Payconiq is therefore very popular throughout the Benelux.
The Payconiq Online API gives online customers a very popular, quick, secure digital payment option. The API gives customers the chance to make online purchases in a matter of seconds. As the process involves no Payment Service Provider (PSP), the costs are very low. The Payconiq Online API also allows users to top up credit on a webstore or to donate funds to charity. In that case, users can choose the payment amount themselves.
Online customers can scan the QR code displayed on the screen of their computer or laptop. They can do this with the KBC Mobile app or the Payconiq by Bancontact app on their phone. If they are browsing a webstore or using an app on a mobile device, they go straight to the KBC Mobile app or Payconiq app on that device for payment.
Just one year after the Payconiq by Bancontact app arrived, it was already used more often than bank cards for paying online. Markedly, more than 50% of all online payments with Bancontact or Payconiq now occur on a smartphone.
Payconiq Online is ideal for merchants who want to start an online or mobile sales channel, because it gives them an integrated payment solution for their customers. It is also the perfect tool for charities, because in that setting users can choose the payment amount themselves.
How does this solution work?
The merchant can integrate the Payconiq Online API into a website or app. The Payconiq Merchant API Guide has further details on the setup of the API.
Firstly, the user opens the KBC Mobile app or the Payconiq by Bancontact app.
If the user is making the purchase on a computer, he or she scans the QR code shown on the computer screen with his or her mobile device.
After that, the user (enters and) checks the amount. He or she can also check the merchant name.
Finally, the user confirms the transaction. He or she does this with a mobile signature based on a code, FaceID or TouchID.
Payconiq is free to all customers. The merchant only pays a small charge for each transaction. In other words, there are no monthly fees. Likewise, there are no investment costs. The transactions are billed monthly.