Payconiq

=What is Payconiq?=

Payconiq is an electronic payment system used in the Benelux and in (parts of) Germany, intended to be able to pay in restaurants, hairdressers, (web)shops etc. using a smartphone. It can be used for omnichannel payments: in-store, online and between friends. Payconiq eliminates the need for old-fashioned payment methods like cash, credit cards and those annoying card readers. Consumers benefit from quick & easy payments through their smartphone while merchants reduce checkout times and pay smaller fees per transaction than any other payment method.

The company released its first pilot project in Leuven, Belgium, in 2015. In Belgium alone, over 50.000 merchants use Payconiq by the end of 2018. Why is this app so interesting? Merchants don’t need a physical pa…