Payconiq

What Payconiq does

People can use Payconiq at physical shops, online and in apps, as well as for bills and money transfers. Funds are sent from the payer’s bank account to the recipient’s account.

The listed merchant applications include point-of-sale payments, e-commerce checkout, invoice payments and nonprofit fundraising.

Fees and plans

The participating bank supplies the app at no charge, and users pay nothing for payments, transfers or receipts. Mobile-operator communication charges are outside that pricing.

Payconiq for merchants is quoted on request. Merchants do not pay subscription or installation fees; a charge applies when they receive a payment. Commission terms vary by merchant, and no fixed costs are stated.

There is no free trial.

Where it runs

Participating banks supply Payconiq apps for Android and iPhone. The named banks are Spuerkeess, POST Luxembourg, BIL, BGL BNP Paribas, ING Luxembourg and Raiffeisen Luxembourg.

An API is listed for integrations. Online checkout can use QR codes or App2App, and the merchant system receives confirmation once the bank approves the payment. Payconiq also describes connections with e-commerce plugins and point-of-sale systems, without naming the plugins.

No separate web or computer app is listed.

Protection, as Payconiq publishes it

Payconiq presents its service as banking technology built to meet high security and encryption standards.

Payconiq International SA says it is authorized as a Luxembourg payment institution and supervised by the CSSF. These are the provider’s statements; no deposit-protection or two-factor-sign-in details are given here.

For general information and activation help, Payconiq directs consumers to their bank.

Strengths

The service sends payment funds from the user’s bank account to the recipient’s account.

Payconiq does not charge users for payments, transfers or receipts, though their mobile operator may charge for communications.

Merchants can take payments through terminals, customer screens, receipts or standalone QR codes. The QR amount may be fixed, changeable or entered by the customer.

Catches and conditions

Access is through an app supplied by a participating bank. Payconiq names six Luxembourg banks offering it to their customers.

The provider says Payconiq payments are migrating to Wero in 2026. It says the Payconiq brand and app will no longer be used after the transition.

Merchant commissions are tailored rather than published as a standard rate. The provider also says its merchant portfolio moved to Buckaroo from January 2026 and that it plans to end payment activities and give up its payment-institution authorization, subject to regulatory and operational steps.

Who should skip Payconiq

It may not fit someone whose bank is not among the participating providers, or a merchant seeking published commission rates or a continuing Payconiq-branded service.

Verdict

Payconiq suits customers of its named Luxembourg bank partners who want account-to-account payments for shops, online checkouts, bills or transfers without a Payconiq user fee. Its merchant tools cover several acceptance formats and connect with checkout and point-of-sale systems.

The planned move to Wero changes the product’s future. Merchants face quote-based commissions and a service transition, while people outside participating banks have no listed access route.

Questions