The two fintechs are pooling together their respective online transaction and terminal solutions for Luxembourg merchants and business customers.
Payconiq International and Servipay have announced a strategic partnership for their online transaction solutions. The objective is to “make life easier for merchants and accelerate the adoption of smartphone payments in the Grand Duchy,” explained the two fintechs in their press release.
Based in Luxembourg and specialized in mobile payment Digicash, Payconiq is a solution for paying bills online and in stores, and for money transfers between individuals via their smartphones.
Operating in Leudelange, Servipay provides fixed and mobile payment terminals for cash registers and e-commerce sites.
“It is perfectly in line with our desire to mark our local roots and to support merchants, independent professionals, and small businesses in the country.”
With this partnership, Servipay’s new PAX A920 electronic payment terminal on Android will accept payments made using Payconiq’s QR codes.
The broader implications of this are that payments via Payconiq’s various applications such as Digicash, which was launched at the end of 2020, will be accepted on Servipay contactless terminals, even beyond the 50 euro limit set for bank cards.
The partnership will also enable Payconiq International to accelerate its deployment in Luxembourg: “It is perfectly in line with our desire to mark our local roots and to support merchants, independent professionals, and small businesses in the country,” explains Alicia Brun, Senior Marketing and Sales Officer at Payconiq International.
Created in 2014 and providing interoperable payment solutions, Payconiq is active in Belgium(Payconiq by Bancontact), the Netherlands (Payconiq) and Luxembourg (Digicash by Payconiq).
In the Grand Duchy, the fintech collaborates with European financial institutions, such as BCEE, BGL-BNP Paribas, BIL, ING, and Post Luxembourg.
Launched in 2012, Servipay offers transaction solutions via its payment terminals to merchants and professionals in the Grand Duchy. Labelled “Made in Luxembourg” in 2018, the fintech is the official supplier of terminal payment solutions to the BIL bank.