Payment methods in Benelux

Let’s go to #Benelux 🇳🇱  🇧🇪  🇱🇺  ! A little walk to discover all the payment methods in Benelux (the Netherlands, Belgium and Luxembourg world of payment).

Nuggets unearthed locally, global actors working there, different types of payment methods.

In 2021, Benelux had a population of over 29.4 million, and its e-commerce turnover was €37.8bn.

 


 

Payment by card 

  • One preferred way of conducting money transfers in Belgium, Luxembourg and the Netherlands is by card. In 2019, Luxembourg had approximately 338 card payments per capita compared to 204 in Belgium and 294 in the Netherlands.
  • With the main local actor:
    • Bancontact

Payment by bank transfer

  • In 2020, in the Netherlands, more than half of all e-commerce payment transactions were done with iDEAL. “Payconiq by Bancontact” is a mobile money transfer app that allows to pay their friends, their bills or on a website.
  • With local actors such as:
    • iDeal
    • Payconiq

Payment by installment and BNPL

  • According to the Q2 2021 BNPL Survey, BNPL payment in the Netherlands is expected to grow by 78.4% on annual basis to reach €1,670.59 million in 2021.
  • With local actors such as:
    • Billink
    • AfterPay
    • Biller (BtoB)
    • Sprinque (BtoB)

Payment by digital wallet and X-Pay

  • In 2021, payment app Tikkie (launched by Dutch bank ABN Amro) has 7 million users with several thousands of B2B users. Bancontact is Belgium’s most popular mobile payment app.
  • With local actors such as:
    • Tikkie
    • Bancontact
    • OK
    • iDeal

 


 

Do payment methods in Benelux interest you?

Do you want more? Access to the #PayWorldTour library