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January 25, 2018

ABN Amro backs off from Payconiq mobile app alliance

Dutch banking major ABN Amro has decided to pull out of Payconiq’s mobile app coalition barely days before the app commences trial in the Netherlands.

ABN Amro was one of the six Dutch banks alongside ASN Bank, ING, Rabobank, Regiobank and SNS to back the launch of Payconic mobile payment solution in the Netherlands.

The Dutch banks formed the alliance after Payconiq was successfully piloted and launched in Belgium with support from ING, KBC and Belfius.

ABN Amro in its press statement said it has “made strategic choices of its own that impact the way the bank aims to serve its clients’ interests.”

“For example, ABN AMRO is further expanding the functionality of its popular payment request app, Tikkie, to retail and business clients.

“ABN Amro and Payconiq amicably agreed to end their collaboration talks. ABN AMRO wishes Payconiq every success in the future,” the statement added.

Developed by ING in 2014, the payment app Payconiq is designed to allow consumers and merchants to send and receive direct payments online, in-store and peer-to-peer. It makes a direct connection with the customer’s payment account at one of the participating banks.

With Payconiq, customers can make payments online and transfer money to friends and family, regardless of their bank.

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