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Are you ready for the cashless customer?

by JohanDid you know...31/05/2018

Are you ready for the cashless customer?
Cashless payments are on the rise in Belgium, both amongst young and less young consumers. Last year, Bancontact and the Central European Bank published some remarkable numbers on this cashless (r)evolution in our country.

For those wanting to stay one step ahead of the competition, they’d better get on board when it comes to cashless payments. Cashless payments are on the rise in Belgium, especially mobile payments. We put together the most important data from recent studies for you.

Cashless payment demands increase amongst smaller independent businesses

Belgians tend to pay cashless more often than the average European. In the Netherlands, however, the number of cashless payments is twice as high.

According to the CEB, this is due to the fact that Belgians can’t always pay cashless. Respondents indicated that, even when they wanted to, it wasn’t always possible to pay without cash 20% of the time. In the Netherlands, on the other hand, customers can make use of cashless payment methods almost 90% of the time.

As a small independent business, it makes sense to introduce different payment methods. A classic payment terminal is a good start, but the real deals are being made with mobile payment apps.

More people are paying via mobile

Nowadays, mobile payments are possible through the Bancontact app, Payconiq, Glase (formerly known as SEQR) and Google Pay.

  • In 2016, 3.5 million payments went via the free Bancontact app. In 2017, this rose to 12 million transactions per year.
  • 76% of Belgians indicate they’ll more likely to pay using a mobile app than three years ago.

Guaranteed internet connection in your business

Whether you choose to use a traditional Bancontact device or are considering mobile payment apps for your business: you’ll need an internet connection for it to work. With Bizz Internet Guarantee, your business is always online, even if the internet connection momentarily fails. You can just carry on surfing using our mobile network, without having to do any switching. Find out more about this most useful service for professional customers.

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