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Tuesday 22 August 2017

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Dutch banks team up for Payconiq launch

Written by Anthony Strzalek
21/04/2017

Six Dutch banks have joined forces and announced the planned launch of a new payment app in the Netherlands later this summer.

ABN AMRO, ASN Bank, ING, Rabobank, RegioBank and SNS have collaborated to roll out the Payconiq app, a new mobile payment service that enables online, on-the-go and one-on-one payments.

The Dutch launch follows a successful pilot phase and introduction in Belgium, with ING, KBC, CBC and Belfius banks supporting the platform.

Payconiq facilitates payments by integrating all payment methods in the app. Payments can be executed to online merchants, bricks-and-mortar shops as well as individuals. The app connects directly to the client’s checking account at participating banks. IBAN details for payments between family and friends are no longer required, as these are generated automatically after selecting the beneficiary from a contact list in the phone.

ABN AMRO, ASN Bank, ING, Rabobank, RegioBank and SNS will support Payconiq in the Netherlands. The association between Payconiq and the banks anticipates the introduction of the new European Payment Services Directive 2 (PSD2), due late 2018. This directive will allow clients to permit third parties to verify payment details with banks and make payments from the client’s checking account.

Duke Prins, CEO of Payconiq, said: “Numerous payment apps have been developed, but not all of them work in regular shops, web shops, between individuals as well as internationally. Our initiative anticipates digitalisation as well as the upcoming changes in the European payment regulation.

“The successful pilot and subsequent launch in Belgium has increased our ambition to effect big changes in other European countries as well. The collaboration with Dutch banks is a promising step for Payconiq.”



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