Payments – eCommerce | Payconiq payment method now available on Limonetik platform

Widely used in the Benelux countries, the Payconiq payment method is now supported on the Limonetik platform. The Payconiq payment QR code has a promising future, since it is designed for all forms of everyday payments and extremely easy to use.

Already handling more than 285 payment methods for 70 countries, the Limonetik international payment service platform has just added Payconiq to its list. This payment method using QR code and App to App technology is highly popular in Belgium and more recently in Luxembourg and the Netherlands.

The Payconiq QR code can be scanned with the Payconiq by Bancontact app (the most popular Belgian payment app available on both Android and Apple) or a banking app having integrated the Payconiq payment functionality. The Payconiq by Bancontact app allows users to pay online or in a physical shop, but also to pay their bills or to pay back friends easily.

“This is a do-it-all payment application; hence its rapid success in Belgium,” says Thomas Rivera, Key Account Manager at Limonetik. “This omni-channel payment method (for in-store and online purchases) works in different ways, amongst others with a terminal that accepts a QR code. It’s therefore possible to pay for just about everything from a simple smartphone: ride-hailing services, a recurring subscription bill, purchases on a marketplace, etc.”

In addition, there are extra services included in the Payconiq by Bancontact app. For instance, the app allows users to store their loyalty cards in the app, to buy train or bus tickets, or add their electronic meal vouchers to consult their account.

The Payconiq by Bancontact app is intended for all Belgians looking for a payment method with added security and supported by 19 banks. Meeting the PSD2 standard, Payconiq by Bancontact is accessible by authentication from any smartphone.

“The Limonetik platform allows the merchant offering payments via Payconiq in a simple and quick way to reconcile operations. The merchant can track all transactions in real time via a merchant portal. Reconciliations are carried out quickly, allowing for detailed and rapid management in the event of a claim for reimbursement.”

A quick and simple user journey

With the Payconiq payment method, the merchant can offer customers a user experience that is both simple and efficient in fewer steps: When a Payconiq QR code is displayed, the customer scans it and pays. Also, merchants can have App to App integration offering a very friendly shopping experience. The merchant benefits from the Limonetik technology, which allows the Payconiq payment method to be integrated simply and reliably, avoiding any chargebacks.

“A recent study by Juniper Research predicted that the total number of QR Code payment users will exceed 2.2 billion -over the world- in 2025, up from 1.5 billion in 2020. Considering the ubiquity of mobile devices and tidal wave of cybercrime, more secure payment solutions will gain market share,” explains Thomas Rivera. “The QR code offers yet another advantage for the merchant: paying less commission—0.5% or even just a few cents, compared to 3% on purchases for payments through debit or credit cards.”

We are very pleased that Limonetik also offers Payconiq as one of its payment solutions,” says Nathalie Vandepeute, CEO of Bancontact Payconiq Company. “Thanks to our cooperation, even more merchants will be able to accept mobile payments via Payconiq. Customers will now be able to pay at even more merchants with their trusted Payconiq by Bancontact app.”

Adding to the large portfolio of payment methods available on the Limonetik platform, Payconiq is expected to attract merchants, marketplaces and PSPs who already work with this leading fintech firm that specializes in international payments and marketplace solutions. Besides the Benelux countries, Germany, France, and the United Kingdom, in the area of retail, food, leisure among others, payment by QR code is looking at a bright future.