Payconiq, a Belgian mobile-payment company, has agreed to acquire Luxembourg-based Digicash Payments, as part of a strategy to widen its presence in the mobile payments arena.
The Digicash mobile wallet works in collaboration with banks, shops, insurers and energy providers, among others. Its mobile app is used by 25% of the Luxembourg population.
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Supported by ING and KBC, Payconiq aims to build a strong partnership with Luxembourg banks and retailers, in order to capitalise on the substantial efforts made in recent years to build one of the most advanced mobile payments setups in Europe.
The combination of Payconiq and Digicash is expected to create a multi-functional pan-European mobile wallet competent of initiating payments online, on the high street and from peer-to-peer via a direct connection with the customer’s payment account at one of the participating banks.
Payconiq CEO Duke Prins 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.”
Payconiq, which is already active in Belgium, is planning to foray into the Netherlands.
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