Payconiq acquires Luxembourg mobile payment leader Digicash
Payconiq, which is supported by ING and KBC and already active in Belgium, joins forces with Luxembourg’s Digicash Payments, the start-up having developed Luxembourg’s market-leading mobile payment solution in partnership with major local retail banks.
With the acquisition of the thriving Luxembourg mobile payments company – the Digicash app is currently used by 25 percent of the local population – Payconiq aims to establish a strong partnership with Luxembourg banks and retailers, in order to capitalize on the substantial efforts made in recent years and to build one of the most advanced mobile payments setups in Europe.
Payconiq CEO Duke Prins says: “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.”