Bancontact

Bancontact is a Belgian debit card with no chargeback risk (a unique feature for debit cards).

Founded in 1989, and now a brand from the Bancontact Payconiq Company, Bancontact makes it possible to pay directly through the online payment systems of all major Belgian banks for customers with Bancontact payment cards.

Bancontact is the Belgian market leader in electronic payment services, with 19 Belgian banks issuing Bancontact cards: Argenta, Attijariwafa Bank, AXA, BNP Paribas Fortis, Banque van Breda, Belfius Bank, Beobank, bpost Bank, CBC, Chaabi Bank, CPH, Crelan, Deutsche Bank, europabank, ING, KBC, Keytrade Bank, Nagelmackers and vdk Bank.

After selecting goods or services, a consumer reaches the merchant’s checkout site. The consumer selects Bancontact and enters their card details. The transaction is redirected to the bank’s online banking site. The customer logs in, reviews the prefilled payment details and authorises the payment.

Once the payment has been submitted, the merchant receives confirmation and the purchase can be delivered. Verification is done by TAN.

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Availability Available with PPRO
Type Local payment card
Company behind LPM Bancontact payconiq
Market share details 220+ million online transactions made with Bancontact in 2021
Market relevance High
Countries

Why Bancontact

1
Bancontact accounts for over 94% of all debit cards in circulation (Cards International).
2
The strongest payment brand in Belgium, Bancontact surpassed other established payment brands in terms of image and familiarity (iVox).
3
Bancontact cites a 10% year-on-year rise in payments, with 224,247,329 online transactions made in 2020.

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