Payconiq completes DigiCash acquisition
Written by Anthony Strzalek
Belgium payments outfit Payconiq has expanded its footprint into Luxembourg after acquiring local mobile payments firm Digicash.
The move comes as Payconiq looks to establish a strong partnership with Luxembourg banks and retailers. Combining forces with Digicash, Payconiq will aim to further enhance the consumer experience in online, on the-go and peer-to-peer payments.
Payconiq, already active in Belgium and expected to soon enter the Dutch market, is being supported by ING and KBC in its expansion plans.
The Digicash app is currently used by 25 per cent of the local population. In the short-term, Digicash users can continue to rely on the 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.
Duke Prins, CEO of Payconiq, said: “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.”