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December 3, 2018

myPOS, Bancontact ink online payments partnership

Payments provider and processor myPOS has signed a partnership with Belgian electronic payments provider Bancontact Payconiq Company to enable its clients accept online payments made with Bancontact cards.

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What does the future hold for BNPL market?

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  • Discusses the disruptive potential of the BNPL sector on the payments industry
  • Identifies the leading companies that are driving sector growth and the benefits this new payments solution provides to both merchants and consumers
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Under the agreement, myPOS customers will be able to accept Bancontact card payments via myPOS Online services including PayButton, PayLink as well as myPOS Checkout.

myPOS founder Christo Georgiev said: “The addition of Bancontact as payment method to myPOS Online brings benefits both ways – myPOS offers better and more flexible services, while the Bancontact payment method enjoys popularity across Europe. In the end it is the consumers that win.”

The latest agreement builds on the companies’ existing alliance. The partnership started last year, enabling myPOS devices in the EEA to accept Bancontact card payments.

Through the collaboration, myPOS is said to have processed around 38,000 Bancontact payments per month on an average in over 20 countries in Europe. The popularity of the service peaks in Austria, Belgium, Netherlands, Italy, Greece and France, myPOS said.

Bancontact CEO Nathalie Vandepeute said: “The fact that Belgians can pay with the Bancontact payment method at a foreign webshop increases the reliability and the clients’ trust. Together with myPOS we offer a solid payment solution, recognisable for Belgians throughout Europe.”

Free Report
img

What does the future hold for BNPL market?

The global Buy Now Pay Later (BNPL) market is estimated at a massive $120 million in 2021 – representing just less than 3% of the global ecommerce market. Yet the user-base is massive, with leading provider, Klarna, alone reportedly having 87 million users in 2021. This market is only expected to grow, with established companies like Apple and Goldman Sachs moving into the BNPL sector in bids to capitalize on this trend. To help you make the most of this growing market, GlobalData’s Buy Now Pay Later in 2022 and Beyond report provides detailed insight into the BNPL sector. This report:
  • Discusses the disruptive potential of the BNPL sector on the payments industry
  • Identifies the leading companies that are driving sector growth and the benefits this new payments solution provides to both merchants and consumers
  • Analyzes the consumer’s risk of using BNPL loans and government attempts at introducing regulations to the sector
  • Uncovers the main risks that consumers expose themselves to when borrowing with BNPL
Download this free report to get to know where this developing market is headed, and how you can reshape your strategies.
by GlobalData
Enter your details here to receive your free Report.

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