COMPANIES & STRATEGIES - TECHNOLOGY

Fintech

Payconiq to support Ideal in the Netherlands



As expected by Payconiq International CEO Guido Vermeent, the fintech is taking its app out of the Dutch stores, where it will provide the technology to Ideal from January. (Photo: Payconiq)

As expected by Payconiq International CEO Guido Vermeent, the fintech is taking its app out of the Dutch stores, where it will provide the technology to Ideal from January. (Photo: Payconiq)

Luxembourg-based fintech Payconiq International said on Tuesday that it would withdraw its app from the Netherlands by the end of the year to become the Dutch digital payment solution Ideal's technology provider. Luxembourg is not affected by this change.

The story has been (almost) known for a year. In mid-December 2020, the founder and historic CEO of the Dutch company Currence, which deployed a payment system called Ideal, Piet Mallekoote, announced that he was retiring and would be replaced by Visa country manager Daniel van Delft from February 2021.

The change is accompanied by the desire to completely renew the technological infrastructure that enabled almost one billion transactions in 2020. Payconiq's infrastructure was chosen very quickly and it will deliver a 2.0 version of Ideal on 1 January 2022.

On Tuesday, Payconiq International confirmed that the application would be removed from the App Store and Google Play in the Netherlands. The fintech becomes a technology provider with European ambitions, but the brand will fade away.

And in Luxembourg? In the grand duchy, nothing will change, says the head of communications at Payconiq International. Especially since, at the end of September, Payconiq had announced the disappearance of the brand Digicash by Payconiq, the most widely used digital payment solution in Luxembourg (62%).

This story was first published in French on Paperjam. It has been translated and edited for Delano.