NFC TIMES Exclusive Insight – Belgium’s domestic debit network Bancontact is offering both QR code and NFC-based mobile payments services with 20 banks in the country, as backers seek to expand use by consumers of mobile and contactless payments, which each make up only around 1% of total Bancontact transactions.
Bancontact added NFC payments using host card emulation to its mobile app for Android phones a month ago. Transactions are still low, around 1,000 per day, although they are growing, a spokeswoman told NFC Times.
The Bancontact app, introduced in 2014, already supports QR codes and PIN codes to enable users to pay bills and invoices online, make payments in shops and send funds to friends and family. These types of payments make up 1 million total mobile transactions per month, which represent only 1% of total Bancontact payments. The Bancontact spokeswoman said 25,000 merchants in Belgium accept QR codes with the app.