SIX and BNP Paribas Fortis open up BC/MC monopoly in Belgium

BELGIUM | SIX Payment Services (SIX) and BNP Paribas Fortis partner to provide payment services to merchants of all sizes and industries in Belgium. Through this partnership BNP Paribas Fortis will be able to offer merchant acquiring services powered by SIX, including leveraging payment terminals and processing of in-store and online card payments.

Ending Bancontact / Mister Cash Monopoly

SIX is the first non-based Belgium acquirers to be able to process Bancontact/MisterCash (BC/MC) card payments and ends the monopoly situation in the Belgian card payment market. SIX and BNP are the first to offer an alternative to merchants to accept Bancontact/Mister Cash. BC/MC is by far the most popular payment method for both in-store and online purchases. Belgium merchants will be offered a one stop shop for Bancontact / Mister Cash, debit and credit cards (including MasterCard, Visa, JCB, CUP and Diners).

Acquiring Partnership

In this acquiring partnership, the bank holds full customer ownership. Through its 900 branches, BNP Paribas Fortis is now able to offer card processing services. "Merchants will enjoy the benefits of having a single partner for all of their payments and collections needs. We’re happy to be able expand our offering for merchant customers with the help of SIX", says Gunter Uytterhoeven, ?Director Marketing at BNP Paribas Fortis.

For SIX, the partnership with BNP Paribas Fortis means it further expands its footprint throughout Europe. “We observe the evolution of the payment market: throughout Europe, banks are moving toward Acquiring, which is traditionally a core competence of SIX" says Luc Holper, Head Market Development, SIX Payment Services.


About SIX Payment Services

SIX Payment Services offers financial institutions and merchants secure, innovative services along the entire value chain of cashless payments. As one of Europe’s largest card transaction processors and market leader in Switzerland, Austria and Luxembourg, SIX Payment Services ensures that card-based payments in Switzerland and abroad are accepted and processed. With around 1,400 employees and 14 locations worldwide, SIX Payment Services supports clients in 33 different countries. Click here to go to SIX payment services website.

About 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. Click here to see which Payment Service Providers support Bancontact / Mister Cash for online purchases.

Article by About-Payments, September 18th, 2014

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