Number of Payconiq transactions in Belgium 2017-2020
In 2020, P2P payment app Payconiq processed over 100 percent more payment transactions in Belgium than in the previous year. Payconiq originally comes from Luxembourg and is a mobile money transfer app that allows people to pay their friends, to pay their bills or to pay on a website. ING Belgium introduced the smartphone app in 2015, with Belgian banks KBC Bank and Belfius joining in 2017. In 2018, Payconiq Belgium merged with Belgian payment system Bancontact into Bancontact Payconiq Company. The same happened to the two separate apps: they merged into one app called "Payconiq by Bancontact".