Cashless, Contactless, the future of payments in Belgium.

Cashless, Contactless, the future of payments in Belgium.

It’s a common thing to say that Belgium’s economy is very much cashless.

According to the ECB (European Central Bank), in 2017, cash represented only 32% of the value of all transactions at points of sale, even if in terms of the number of transactions, cash is still used in 63% of cases.

One explanation could be that until recently, retailers were reluctant to accept card payment for small amounts (usually under 10 or 15 €) due to relatively high transaction and communication costs determined by payment operators. This situation ended when PSD II entered into force: the share of cashless payments should logically continue to increase and accelerate along with the apparition of new Payment Initiation Service Providers (PISPs).

Even without this, Belgium is already a European and a world champion of cashless transactions.

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Luxembourg surfs Brexit wave to strengthen its private equity industry

Luxembourg surfs Brexit wave to strengthen its private equity industry

Luxembourg is renowned worldwide for its fund administration industry currently hosting at least 15 of the 20 largest global funds (including Carlyle, Blackstone, KKR, Apollo ...), which  have structures and / or funds domiciled in the country. The Brexit has created a major challenge for Luxembourg, as the country will have an opportunity to attract a maximum of the British market players as a consequence to the decision taken on 29 March 2017.

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