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Luxembourg, August 2, 2017 – Payconiq announces today that it will expand its footprint to the Grand-Duchy of Luxembourg by joining forces with Digicash Payments SA, the company behind Luxembourg’s mobile payments product Digicash. Payconiq aims to establish a strong partnership with Luxembourg banks and retailers, in order to capitalize on the substantial efforts made in recent years and to build one of the most advanced mobile payments setups in Europe. Combining forces will bring Payconiq’s international expertise and scale to the Grand-Duchy, further enhancing the consumer experience in online, on the-go and peer-to-peer payments.

Payconiq, already active in Belgium and expected to soon enter the Dutch market, is supported by ING and KBC in taking this important step. The acquisition of the thriving Luxembourg mobile payments company –the Digicash app is currently used by 25 percent of the local population– takes place under the supervision of the Commission de Surveillance du Secteur Financier (CSSF). In the short-term, Digicash users can continue to rely on the trusted payments service, which is made available in Luxembourg through local partner banks. Payconiq aims to further expand services for consumers and (online) merchants within the first six months of 2018.

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