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Wallet Database

Digicash

9th of March 2017

Overview



  • SummaryDigicash is an account to account digital wallet for P2P payments and online, in-app and in-store (via QR code and NFC) purchases. Digicash is operating in Luxembourg only and was launched in 2012 by the start-up Mpulse. Digicash is offered to consumers by participating banks (BCEEBNP ParibasBILPOST Luxembourg), while merchant acquiring services are handled by Digicash Payments S.A.

  • Websitehttps://www.digicash.lu/

  • StatusLive

  • Market: Luxembourg (2012)

  • Type: Other

  • Ownership: Digicash Payments S.A., a Payment Institution under the supervision of the Luxembourg financial services authority CSSF. The main banks from Luxembourg (BCEE, BNP Paribas, BIL, POST Luxembourg) are partners of this initiative.

  • Functions: Retail and P2P payments

  • Payment Mode: Account to account

  • Channel: Web, In-app, In-store (via QR code, NFC and Bluetooth)

  • Roadmap: Receipts storage  

User Experience



  • Registration & set up: Users must be customers of one of the supporting banks, have linked their mobile phone number with their bank account and have access to online banking.  The bank account and the phone number must be linked to Digicash app. Also allows to store loyalty cards from Auchan and Total and automatically accumulate points in the app. Each participant bank has developed its own Digicash app, which is available on Google Play and App Store.

  • Making a payment:

    In-store (NFC and Bluetooth): App must be open. Payment initiated by bringing the phone close to the terminal. Authenticate with PIN. Also supports fingerprint in order to authenticate the transaction.

    In-store (QR-code): Scanning the QR code with the phone from the receipt. Authenticate with PIN. Also supports fingerprint in order to authenticate the transaction.

    On the Internet: Selecting Digicash as a mean of payment. Scanning the QR code that appears on the laptop’s screen. Authenticate with PIN. Also supports fingerprint as a way of authentication.

    In-app: Selecting Digicash as a mean of payment. Authenticate with PIN. Also supports fingerprint in order to authenticate the transaction.

    P2P payment: Selecting the recipient from the contact list. Entering the amount of the transaction. Authenticate with PIN. Also supports fingerprint in order to authenticate the transaction.

Payment Flows & Technology



  • Merchant perspective: For merchants, unlike users, the Digicash solution is offered directly by Digicash Payments S.A. regardless of the acquirer bank (merchants do not need to have a bank account with one of the participating banks). When a payment is initiated by a Digicash’s user, a free transfer/eurotransfer is triggered. The payer’s bank account is debited and the merchant’s bank account is credited. The funds are transmitted directly  to the merchants’ bank account (there is no intermediate account) in real-time (if their account is held by the same bank as the payer one) or one day after (if their account is held by another bank).

  • Security: The infrastructure, the Digicash mobile payment network, and the Digicash application of each partner bank, meet very high standards of security and encryption for mobile payments. Every transaction is personalised with PIN or fingerprint.

Business Model



  • Strategy: Digicash offers to merchant a way of payment acceptance and in return charge them a variable fee for the use of its services.

  • Payee fee: No set up or subscription fees. The charged fees are variable and vary from one channel to another:Digicash WebPOS: 0.07 € If the transaction amount is less than 20€. 1.55%, if the transaction amount is equal or over 20€.Digicash In-store POS: 0.70 € each payment.(Source: https://www.digicash.lu/fr/recevoir-des-paiements/conditions-tarifs )

  • Payer fee: No charge for consumers    

Performance Data


Contact (MobeyForum Members only)



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