Bancontact, founded in 1979 and formerly know as Bancontact/Mister Cash, is a leading payment method in Belgium, where it is used in up to a third of online transactions. Bancontact payments are authenticated by customers and immediately confirmed to businesses. Bancontact is offered as a payment option by more than 80% of online businesses in Belgium, and processed more than 27 million payments in 2015.
In 2014, Bancontact introduced a mobile application to streamline its payment experience. Using their mobile app, customers can identify by scanning a QR code presented at the time of payment. Each transaction is then confirmed with a PIN. The app has seen a successful rollout and is used in more than 50% of transactions on desktop, and 90% of transactions on a mobile or tablet device Ecommerce and on-demand platforms are businesses for which Bancontact is an adapted checkout option.
While Bancontact payment details are single-use, each transaction can allow businesses to retrieve the bank account details of customers, enabling subsequent payments to be completed via SEPA Direct Debit with the appropriate mandate authorization.
Where can I set my payment options in the dashboard?
Go to Shop configuration > payment options in your dashboard to find your payment options.
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Booking type
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No appointment needed, accept new booking automatically
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Payer geography
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Belgium
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Currency
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EUR
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Disputes
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No
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Payment confirmation
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Immediate
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Explanation of terms used in the table:
- Booking Type: In which type of accept bookings is the payment method possible?
- Payer geopraphy: Where can you use this payment method
- Currency: Which currencies are supported for this payment method?
- Dispute: Is there a dispute to receive the payment from the customer?
- Payment confirmation: How long will it take to get the confirmation?
What does it look like for the customer?
