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Bancontact Payconiq Company.
Domestic Card Brand
Bancontact debit cards, mostly co-badged Maestro.
Bancontact Payconiq, the Belgian mobile payment app.
In March 2018, the domestic card scheme Bancontact merged with the mobile payment app operator, Payconiq.
From 2011, most Belgian banks restrict the use of the Maestro function on Bancontact cards to Europe (geo-blocking).
Debit cards dominate the market, accounting for 87.12% of card payments in 2018. Credit card use is under-developed.
KBC Bank Group has developed a substantial retail banking network in the CEE region but made divestments in 2011-13.
Belfius Bank (previously Dexia Bank) is state-owned.
Emerging Open Banking ecosystem.
Notable Market Trends
Contactless Bancontact rollout, Bancontact Payconiq app, Mybank, HCE NFC card payments, Open Banking payments.
Statistical Key Figures for 2018 provided in this profile:
• UPDATED: tables with card business data 2014-2018; growth rates: Y-o-Y, CAGR
• Population, Cards per Capita, Card Value per Capita
• Debit Cards, Credit/Delayed Debit Cards, Total Cards
• Card payments by number and by value, ATV per card, payments per card/year
• ATMs, POS terminals, ATMs/POS terminals per 1 million capita
• ATM withdrawals by number/by value, ATV per withdrawal, TXs per ATM/month
• POS payments by number/by value, ATV per POS payment, TXs per POS/month
• Internet Use, e-payment mix, B2C e-Commerce by value and growth rate
• Issued Card brands by individual major issuer bank
• Accepted card brands by individual major acquirer
• Drill down into the debit card use and credit cards use details
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1.1 last updated 13th January 2020