Bancontact is a dominant local payment method in Belgium and has existed since 1989
Alternative Payment Methods Bancontact
Bancontact processes about 150,000 transactions a day, which makes it the most used payment method in Belgium to date.
With PayFasto you’ll pay a fixed, low fee per every successful transaction and refunds.
Fixed fee: € 0.30
About Bancontact
Bancontact is the most used digital payment method within Belgium, they have over 15 million cards in usage. Consumers will use a Bancontact card or the mobile app which is linked to their Belgian bank account in order to make an online payment that is not only secured, but also guaranteed, and confirmed immediately. For a consumer to pay with Bancontact, they’re redirected to the Bancontact website or mobile app in order to authorize the payment to then being redirected to your website where they’ll get an immediate notification about whether it succeeded or failed. Also good to know is that 86% of all payment done online in Belgium is done via Bancontact, so in order to enter the Belgium market, you’ll need Bancontact with PayFasto.
Customer Flow
Bancontact processing details
Overview:
Markets: Belgium
Payment Flows: Desktop, Mobile App, QR-Code
Recurring Payments: No
One-click Payments: No
Currency:
Processing: EUR
Settlement: EUR
Recurring: None
Transaction Information:
Minimum Amount: 1 EUR
Maximum Amount: No limit except for 500 EUR via QR-Code
Timeout: 2 hours
Features & Risks:
Refunds: Yes
Partial: Yes
Multi Partial: Yes
Minimum Refund: No
Dynamic Descriptor: Yes
Payment Guarantee: Yes
Chargebacks Risk: No
Benefits to using Bancontact with PayFasto
The most used payment method in Belgium
A trusted name for Belgian consumers
Payments are guaranteed and immediately confirmed
Protected by 3D-secure technology
A set, low fee of €0.30 for successful transactions
