Digicash-Payconiq Luxembourg Newsroom
Payconiq picks Luxembourg for new headquarters
Payconiq, the mobile payment service for online, on-thego and direct payments, has relocated its headquarters to Luxembourg. The company started in Amsterdam where Payconiq was founded and has thrived under the wings of ING’s innovation hub. Starting today, Payconiq will continue as an independent entity, putting down roots in the ‘payments capital’ of Europe.
Luxembourg will act as Payconiq’s central hub for the countries in which it is active and drive the company’s continued expansion in Europe. Following the relocation, Payconiq is supervised by the Commission de Surveillance du Secteur Financier (“CSSF”), the supervisory authority for the financial sector of the Grand Duchy of Luxemburg.
Along with the move, Payconiq, as sole entity, has received investment from ING, KBC and Belfius as shareholders. In the near future, more international operating banks will participate in the mobile payment service provider.
Duke Prins, Payconiq CEO: “The relocation of our headquarters to the heart of Western Europe is a new step in the development of Payconiq as a European payment service. With a number of powerful international banks as shareholders, we will be able to accelerate our growth throughout Europe.”
Payconiq is already active on the Belgian market and will soon enter the Dutch market. In Luxembourg, the company has joined forces with the Luxembourg fintech startup Digicash Payments, a mobile payments service offered by a number of banks in Luxembourg. Thanks to the cooperation with Digicash, customers will be able to use Payconiq for online, on-thego and direct payments right across the Benelux in 2018.
Payconiq joins forces with Luxembourg-based Digicash
Luxembourg, August 2, 2017 – Payconiq announces today that it will expand its footprint to the Grand-Duchy of Luxembourg by joining forces with Digicash Payments SA, the company behind Luxembourg’s mobile payments product Digicash. Payconiq aims to establish a strong partnership with Luxembourg banks and retailers, in order to capitalize on the substantial efforts made in recent years and to build one of the most advanced mobile payments setups in Europe. Combining forces will bring Payconiq’s international expertise and scale to the Grand-Duchy, further enhancing the consumer experience in online, onthe-go and peer-to-peer payments.
Payconiq, already active in Belgium and expected to soon enter the Dutch market, is supported by ING and KBC in taking this important step. The acquisition of the thriving Luxembourg mobile payments company –the Digicash app is currently used by 25 percent of the local population– takes place under the supervision of the Commission de Surveillance du Secteur Financier (CSSF). In the short-term, Digicash users can continue to rely on the trusted payments service, which is made available in Luxembourg through local partner banks. Payconiq aims to further expand services for consumers and (online) merchants within the first six months of 2018.
Payconiq CEO Duke Prins makes the following statement about the company’s Luxembourg expansion: “The excellent work done by banks and by the entrepreneurs behind Digicash forms another cornerstone of the combined product offer we are building. Our intention is to tightly partner with the national Digicash community of consumers, retailers and banks. Similarity of philosophies, business setups and product architecture highly facilitates our collaboration. This is also a great example of a Benelux-partnership, laying a strong foundation for a European digital future in payments. About Payconiq
IBAN number not required Payconiq facilitates mobile payments for both consumers and retailers by integrating online, on-the-go and peer-to-peer transactions in its all-in-one payments app. Users no longer need to enter long IBAN numbers to settle payments. Online and in-shop payments are executed via QR code or a direct link to the Payconiq app. The app enables straightforward peer-to-peer payments by linking bank accounts to phone numbers. Access to the sender’s contact list allows the app to simply link the beneficiary’s phone number to their banking details.
International activity By adding Luxembourg to Payconiq’s international footprint, making and receiving payments will become a reality throughout the Benelux. In Belgium, the platform is supported by Belfius, ING and KBC/CBC and over 35,000 shops are actively connected to the system. In the Netherlands, where the app is backed by ABN AMRO, ASN Bank, ING, Rabobank, SNS and RegioBank, rollout of the service for consumers and retailers is foreseen in the near future.
Consumer and merchant benefits Payconiq is the first international cross-border payments service that enables consumers to make online, on-the-go and peer-to-peer payments with a smartphone. Retailers equally benefit, as Payconiq’s single, trouble-free method of payment can be used for both online and in-store payments, making transactions more efficient and transparent. In addition, Payconiq’s API facilitates easy integration and offers options such as links to loyalty programs. As payment terminals are not required in order to perform transactions, Payconiq’s merchant rates are very competitive. Consumers can enjoy the Payconiq app completely free of charge. ”
“At Payconiq, we believe that every person owning a bank account and a smartphone is entitled to be part of the digital journey – no need of a credit card for that! We wanted to keep it simple and safe and we found a way of doing it while using existing rails. Thanks to the SEPA SCT, we’re using banks’ secure infrastructure to provide everyone in Europe with a simple, mobile solution for payments. This is why we have chosen to work with banks, rather than competing against them. Luxembourg has the ambition to be the leading digitally-enabled country in Europe and we are committed to help making it happen. Actually, it’s happening already: our users can pay their speeding tickets and taxes, as well as top up their children’s Restopolis canteen cards”.
CEO Payconiq Luxembourg
COO Payconiq International
Michael has worked for more than 20 years in banking and finance at Citibank (London, Amsterdam, Zurich), BNP Paribas Fortis (Brussels), Barclays (London) and the Luxembourg Stock Exchange. Originally from Luxembourg, he has extensive operational and commercial experience in the financial and banking industries. Michael is also COO of Payconiq International.
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