BELGIUM | Bancontact / Mister Cash (BC/MC) now has its improved mobile app to enable consumers to pay among friends, pay online and pay bills in shops and restaurants. Bancontact / Mister Cash is the most popular payment method in Belgium for both in-store and online purchases. There are currently more Bancontact cards than Belgians.
Context: what is Bancontact / Mister Cash?
Bancontact / Mister Cash is the domestic debit card scheme in Belgium, allowing consumers to pay in real-time and guarantee payment to (online) merchants and businesses. Bancontact payments are immediately debited from the consumer's bank account. The receiver’s account will be credited the next working day. Today, there are more Bancontact/Mister Cash cards in circulation (15 million) than there are Belgian citizens (10.5 million). No less than 99% of all consumers know Bancontact/Mister Cash and 86% of all payments by electronic card are Bancontact/Mister Cash payments. Bancontact/Mister Cash is the offline and online payment method in Belgium.
Worldline by Atos is one of the payment providers that enables merchants to accept Bancontact / MisterCash transactions at Point-of-Sale and in their ecommerce shop. Online merchants are able to accept Bancontact / MisterCash payments either directly via Worldline's Sips payment gateway or via Payment Service Providers supporting Bancontact / MisterCash. In 2013 Worldline processed over 1.5 billion transactions (+6% vs 2012), of which 1 billion transactions were made using the Bancontact / MisterCash brand. Bancontact/Mister Cash wins also in popularity for online purchases: almost 50% more ecommerce transactions in 2013.
In February 2013, Bancontact / Mister Cash launched their 'co-creation’ mobile app initiative to seek collaboration with consumers and businesses to further optimise their mobile app. Over the last year, the app was positively received by 50,000 testers. Bancontact now officially launched its improved Bancontact App which is now available to over 99% of all Bancontact/Mister Cash cardholders. At the moment there are 16 participating banks enabling their clients to use the Bancontact app straightaway (including BNP Paribas Fortis (Hello Bank! and Fintro), CBC Banque, ING België, KBC Bank).
How does the Bancontact app work?
Consumers can simply download the iOS or Android Bancontact app as long as their bank is one of the participating banks. In the app, they can select their bank, enter their Bancontact card, number and expiry date. The consumer will then be connected to their bank for online authentication. This is the only time the consumer would need an electronic card reader or digipass to generate the unique code for authentication. After choosing a username and setting a PIN code for the app they are able to use the app for payments. The Bancontact app allows transactions up to €250.
Bancontact / Mister Cash app payments - The checkout process
For Belgian consumers regularly shopping online via desktop, tablet or mobile the app provides simple payment checkout and more convenience. In case the shopper uses a smartphone or tablet they choose to pay with the app option and confirm the payment with their PIN. That's it, payment is done. For shoppers on desktop and laptop the app payment process is slightly more complicated: upon checkout they need to scan the QR code with the Bancontact app that is generated by the webshop. The online shop needs to accept mobile payments with Bancontact / Mister Cash to be able to generate such QR codes. The shopper confirms payment by entering their PIN in the app. See the image below the article.
How to accept Bancontact / Mister Cash mobile payments online?
Merchants should contact their Payment Service Providers (PSP) to have the service for mobile app payments implemented for their business. The first Payment Service Providers that support Bancontact / Mister Cash mobile payments are Worldline (via their Sips Payment Gateway) and Ogone. There are other Payment Service Providers who will also offer this new mobile Bancontact/Mister Cash payment method in nearby future.
Bancontact and Sixdots
Bancontact/Mister Cash has also entered into cooperation with Sixdots, the open Belgian Mobile Wallet. Sixdots, powered by MasterCard's MasterPass technology, will be able to expand its reach considerably by offering Bancontact as a payment method on its payment platform; Bancontact in its turn will be able to offer its customers easy access to authentication and new mobile Sixdots services.