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Belgium

Belgium

Belgium is a constitutional monarchy with three regions (Flanders, Wallonia and Brussels Capital). There is a government at federal level, and three regional governments (one Flemish, one Walloon, and one from the Brussels Capital region). There are also three communities: Flemish, French and German-speaking. The main cities, apart from Brussels, are: Antwerp, Bruges, and Ghent in the Flanders Region and Arlon, Charleroi, Liège and Namur in the Walloon Region. Belgium is 30,688 km2 and has a population of 11.2 million people. Belgium enjoys a temperate, rainy climate due to its location on the North Sea. As a rule, the climate is not too hot in summer (maximum temperatures range between 20 and 30 degreesCelsius, with high humidity) and in winter the temperatures range between minus 0 and minus 10degrees Celsius. Weather forecasts are available on www.meteobelgique.be. The official languages are French, Dutch and German. English is the most widely used foreign language. Belgium is part of the Euro zone. It is possible to pay with different types of credit cards.

Currency:
Euro

Top banks

The banks in Belgium are known to be one of the most liberal and sophisticated systems around theglobe. Belgium ranks third in Europe in terms of the density of bank branches. There are over 140branches operational in Belgium. Additionally, it is one of the leading providers of electronicbanking services, with more than 90% of the transactions conducted electronically. In addition to its local banks, Belgium also has several international banques, such as Banca MontePaschi, BBVA, ING, Rabobank and Santander. Bank Opening Hours The largest banks have at least one branch in each city. Most of the time, the opening hours are 9am to 4.30 pm on Mondays to Fridays. Some banks are also open on Saturdays. In small towns,branches are usually closed during lunchtime, between 1 and 2 pm. Maintenance Fees Cost The costs vary from one bank to another and depend on the services that are subscribed to. They can be non-existent in some cases, on the condition that you leave a permanent reserve in the account.

Wallet

BNP PARIBAS

BNP Paribas stands out with its robust diversified and integrated model, which is the foundation of its performance. By having all its business lines work together and through its global footprint, the Group addresses its customers’ need on a broad basis and supports them in their development. The Group’s diversification in terms of customer segments, sectors and business lines is a source of stability. Revenue 46,9bn Euro. On the strength of these advantages and in accordance with its company purpose, the Group plays its role in full as a financier of the economy, as a responsible investor, and as an accelerator in the necessary transition towards a low-carbon economy.

Wallet

ING Belgium

We know people don’t need banks, they need banking. Our promise is to make banking frictionless, removing barriers to progress and giving people the confidence in their ability to make decisions and to move forward. This promise frees them from the constraints that stand between them and their passions and encourages them to do more of the things that give their life meaning. You expect an experience that’s personal, easy, relevant and instant. What this looks like depends, of course, on who you are. For individual customers and small businesses, ING’s emphasis is predominantly on mobile banking, while for mid-corporate and Wholesale Banking clients it’s all about personal relationships and superior sector and network expertise supported by seamless digital delivery. ING Belgium has posted one of its best half-year results in a decade with a pre-tax profit of €588 million for the first 6 months of 2023. Revenue rose almost 20% to end at a solid €1.8 billion.

Wallet

KBC

We are an integrated bank-insurance group, catering mainly for retail, private banking, SME and mid-cap clients. Our core markets are Belgium, the Czech Republic, Slovakia, Hungary and Bulgaria. We are present to a limited extent in several other countries. Through our activities, we want to help our clients to both realise and protect their dreams and projects. It is our ambition to be the reference for bank-insurance in all our core markets.

Wallet

Rabobank

Rabobank Belgium is a top Wholesale Bank in the F&A and Energy Transition market The Rabobank group has been operating in Belgium for over 35 years. We offer high valued products and services to our wholesale customers in Belgium and Luxembourg. Revenue €12 billion (2022).

Top payment methods

Wallet

Bancontact

Bancontact is Belgium’s most popular payment method, with more than 150,000 average dailytransactions and is linked to the majority of Belgian banks. Business owners appreciate the fact thatBancontact payments are irreversible once confirmed, which reduces the number of chargebacks.

Wallet

Apple Pay

Several major banks and payment providers in Belgium support Apple Pay. Customers with Apple devices can connect their credit and debit cards to pay for products and services. iPhones are themost widely used mobile.

Wallet

Amazon

Amazon only recently launched its Belgium-specific store. However, the nation's shoppers havebeen loyal users of Amazon’s French and Dutch outlets for years. As a result, Amazon Pay is fairlywidespread in Belgium.

Wallet

SOFORT

Online bank transfers are one of the most widely used payment methods in Belgium. They're usedin about 19% of the nation's ecommerce transactions, according to Statista. The most popular banktransfer service for Belgians is SOFORT.

Wallet

Paypal

Paypal is one of the market leaders in online payment solutions with more than 400 million active customers worldwide, available in 200 countries and in more than 100 different currencies. As faras online shopping payment is concerned, it is the one of the mostused payment method in France.

Wallet

Credit cards

Credit cards are Belgium's second most common payment method. The most popular credit cardbrands are Visa, Mastercard, and American Express. Belgians tend to make higher-value averagepurchases with credit cards.

Concluding remarks

In Belgium, payment habits are quite similar to those in other developed countries. More precisely,cash, debit cards and credit cards are all widely accepted forms of payment. Additionally, mobilepayments and contactless payments are becoming increasingly popular. Below, we explain someparticularities in relation to each of the referred payment methods:

Cash

While the use of cash has been declining in Sweden, it is still accepted in many places,especially for small transactions. However, it's worth noting that some businesses, particularly inlarger cities, have transitioned to cashless operations.

Debit Cards

Debit cards are the most common form of payment in Belgium, and they're accepted at most shopsand restaurants. Belgians typically use their debit cards for day-to-day purchases and to withdrawcash from ATMs.

Credit Cards

Credit cards are also widely accepted in Belgium, although not quite as ubiquitous as debit cards.Many Belgians have at least one credit card for larger purchases or for traveling abroad.

Mobile Payments

Mobile payments are gaining popularity in Belgium, with apps like Payconiq, Bancontact, and ApplePay becoming more widely used. These apps allow users to pay for purchases using their smartphone.

Contactless Payments

Contactless payments are also becoming more common in Belgium, with many retailers acceptingpayment by tapping a debit or credit card on a payment terminal. Overall, payment habits in Belgium are quite diverse and convenient, with a variety of paymentoptions available to consumers.

For more information contact us: info@processing.news

About us

Processing News is an Online Wikipedia of the payment world. We collect and publish information about payment habits in different countries, describing methods that payers use in their daily life. 


We attract website owners and payment professionals on our portal through marketing channels and personal communication. Also we work as affiliates and recommend to the website owners where they can find a PSP who supports their business model and we introduce clients to PSP.

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