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Paynovate launches Payconiq

Thursday 19 October 2023 14:40 CET | News

Paynovate, an e-money institution focused on digital payment solutions, has launched Payconiq across its European and UK payment terminals. 

According to the official press release, the company’s merchants will now be able to offer Payconiq alongside other schemes including Visa, V Pay, Mastercard, Maestro, Bancontact, Monizze, UnionPay, Edenred, and Sodexo. By leveraging the offerings of Payconiq, customers are able to make simplified mobile payments. Customers simply scan the QR code that is displayed on the terminal with their Payconiq by Bancontact app and confirm the amount. 

Paynovate, an e-money institution focused on digital payment solutions, has launched Payconiq across its European and UK payment terminals.

This solution seeks to connect the digital and physical worlds with a single in-store payment journey based on its terminals using dynamic QR codes. This means that a new QR code is generated for each transaction. The terminals do not support static QR codes and also integrate with Loyalpay terminals in an easy manner. 

Officials from the company emphasised that the launch of Payconiq is part of a continuous effort to deploy new products and services that will help its community of merchants increase profitability and improve their business efficiency. 

The Payconiq payment method will be deployed on Paynovate’s Android 9220 and 5310 payment terminals. Furthermore, Payconiq is intended to be a modern payment infrastructure with scalable, real-time payment solutions across the entire omnichannel experience. It places the user experience at the heart of the payments journey with the latest account-to-account payment technologies. 

About Paynovate and its previous developments 

Based in Belgium, Paynovate is an e-money provider that extends issuing, acquiring, and bank account services. As part of its offering, Paynovate leverages a single platform and point of contact for the processing of all transactions. The fintech is reportedly a fully licenced e-money institution (EMI) as well as licenced by the National Bank of Belgium and the FCA. 

The company has committed to establishing a presence in Europe, as shown by its previous expansion. In July 2023, Paynovate extended its operations to France. The expansion was made possible following the company’s partnership with La Centrale de Paiement Sécurisé (LACPS), a French transaction broker. As a result of the joint venture, LACPS would help facilitate Paynovate’s entrance into the French market by extending its offering to local bakeries, tobacco shops, pharmacies, restaurants, hotels, and other businesses. Moreover, in the following months after the press release, LACPS would additionally launch other digital payment solutions by Paynovate, including IBAN accounts, credit and debit card issuing offerings. 

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Keywords: payments , mobile payments, digital payments, merchant, QR payments
Categories: Payments & Commerce
Companies: Paynovate
Countries: Europe, United Kingdom
This article is part of category

Payments & Commerce

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Paynovate

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