Friday , October 7 2022

How many Belgians use contactless payment?



Only 4% of banking transactions were carried out without contact currently in Belgium, according to statistics released Friday by Mastercard, a debit card maker Maestro. However, 6.2 million out of a total of 16 million are equipped with this technology and 85% of the country's pay terminals are compatible.

Since disappearance or reconciliation has disappeared, Mastercard expects, therefore, a very strong evolution and greater penetration in payment without contact. In the Netherlands, 51% of transactions are made without the introduction of a card at the terminal, compared with only 4% in Belgium between October 2017 and the same month of this year. "Banks started earlier than home to introduce this technology, which was launched in both cases in 2015. And the state is now 4 to 5 years ahead of us," says Henri Devaerheijd.

By the end of the year all debit cards will be compatible, while this rate is currently 38% in Belgium (15% a year ago).

Comparison is not so negative. Technology has really increased by 70% this year, next to Moerdijk, against 363% in Belgium. Currently, 85% of the terminals are compatible, 60% at the end of 2017, with the lagging sector.

"We finally reached a critical mass in Belgium, which makes us expect a strong evolution of contactless payments, because they are all necessary elements for growth, combined," predicts the director of Mastercard.

And then there are consumers' consent regarding this technology. We must deconstruct the myths surrounding it, insists Henri Devaerheijd. For example, it is not possible to steal money by bringing the terminal near a card (in a pocket) without the knowledge of its owner, he assures.

In addition, contactless payment is accompanied by a series of own security measures, such as a request for the purchase of over 25 euros and the chance of confirming its identity.

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