Article summary

        Bancontact is the most widely used payment method in Belgium. It's easy to use and there is a mobile app available that works with QR-codes.

        Payment typePayment flowLandValutaRecurringRefundsPartial refundsSeperate capturesPartial capturesChargebacks
        Bancontact cardDebit CardRedirectBEEURYesYesYesNoNo
        Bancontact mobileWalletAdditional action (QR code)BEEURYesYesYesNoNo

        • Wide range of Belgian consumers
        • Identifiable on the bank statement of the consumer because it mentions the website name
        • Guaranteed payment method
        • Can be used in your own checkout/App
        • Processing and Collecting are optional
        • It’s possible to start recurrent SEPA Direct Debits based on the payment data
        • Only available for consumers with a Belgian account number
        • Only possible in Euro

        Bancontact WIP

        In the first quarter of 2020, Bancontact WIP was officially introduced to the market by Bancontact. It is an extension of the existing Bancontact service based on a Wallet.

        • Speed: follow-up transactions with the same Merchant can be completed faster.
        • Recurring: Recurring/Installments can be processed via the Bancontact Scheme.
        • Trust: as an extension of Bancontact, WIP comes across as a trusted service.
        • Volume: only available for low risk/high Merchants with a minimum of 25,000 Bancontact transactions per quarter.
        • Application: a WIP application will involve a multitude of questions to the Merchant and Buckaroo.

        Wallet Initiated Payments

        Bancontact WIP is an extension of the existing Bancontact service based on a Wallet. The abbreviation WIP stands for Wallet Initiated Payments. If a card holder decides to leave his card data with the Merchant, the card holder is offered the option to make follow-up payments without Secure Authentication. To enable this, Buckaroo saves the card data in the Buckaroo Tokenization Service during the first approved transaction. Based on the card data in the Wallet, a Merchant can offer two additional Bancontact features:

        1. OneClick Payments: A fast checkout feature that allows consumers to complete a payment with a single click.
        2. Recurring/Installments: This allows you to make recurring payments or installments. Subscription amounts can also be paid automatically, without the card holder having to be involved.

        When a Merchant has been approved by Bancontact, Bukaroo will receive the related WIP Credentials from Bancontact. Thus, Buckaroo is able to activate WIP for the Merchant. For activated Merchants, the WIP transactions are verified by Bancontact. In case of too many chargebacks and/or fraud, Bancontact can decide to (temporarily) deactivate the WIP feature.

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