{"id":1933,"date":"2017-06-02T17:19:08","date_gmt":"2017-06-02T15:19:08","guid":{"rendered":"https:\/\/my-life.lu\/?p=1933\/"},"modified":"2024-10-01T11:01:34","modified_gmt":"2024-10-01T09:01:34","slug":"new-electronic-payment-methods-50002","status":"publish","type":"post","link":"https:\/\/my-life.lu\/en\/new-electronic-payment-methods-50002\/","title":{"rendered":"New electronic payment methods"},"content":{"rendered":"

The era of cheques, paper transfers, and even cash is rapidly receding. In recent years, cashless payment has been gaining momentum. Like its European neighbours, Luxembourg has witnessed a move towards faster, more practical electronic means of payment. Let’s take a look at the main solutions on offer.<\/p>\n

1. NFC bank cards<\/h2>\n\n\n\n
\"\"<\/td>\nIntroduced in Luxembourg in 2016, NFC (Near Field Communication) debit and credit cards let you make contactless purchases of up to EUR50 without entering a PIN, simply by holding your card next to a compatible payment terminal. Of course, you may use these cards for any purchase, but your PIN will be required for amounts above EUR50, as well as for sporadic security checks. The EUR50 limit varies by country.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
\n

To find out if your card<\/strong><\/span><\/a> features contactless NFC technology, look for the \"\"symbol.<\/p>\n

Advantage:<\/b> NFC cards let you pay with a simple gesture and eliminate the need to keep change for small purchases.<\/p>\n

2. Payconiq<\/h2>\n\n\n\n
\"\"<\/td>\nApproved by the Ministry of Finance and supported by Luxembourg\u2019s foremost banking institutions, the Payconiq<\/strong><\/a>\u00a0mobile payment system and network enables users to manage their bills, retail purchases, money transfers and even in-app purchases from their smartphones.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Advantage:<\/b> Works without a card and saves time. For example, you no longer have to wait at restaurants to pay your bill: when it arrives, just scan the Payconiq QR code with your smartphone, approve the payment with your fingerprint or PIN, and you\u2019re done! The waiter receives the payment confirmation directly at the cash register.<\/p>\n

3. QuickMoneyTM<\/sup><\/h2>\n

QuickMoneyTM<\/sup> is a feature offered by BIL\u2019s Mobile Banking solution. Available on tablets, smartphones and the Apple Watch, QuickMoneyTM<\/sup> offers quick access to free cash withdrawals from BIL ATMs, with no card required (up to EUR 500\/day).<\/p>\n

Advantage:<\/b> Make cash withdrawals.<\/p>\n

4. LuxTrust<\/h2>\n

Although not a payment method in itself, LuxTrust<\/a><\/strong><\/span> protects your digital identity and secures your electronic data using LuxTrust certificates. Widely used in Luxembourg, this identification solution is managed by the Luxembourg government and major financial institutions, so you can rest assured that your information is safely protected.<\/p>\n

Advantage:<\/b> Increased security for your digital identity, especially your financial details.<\/p>\n

\"\"<\/p>\n

 <\/p>\n

5. What about Apple Pay?<\/h2>\n

Slowly but surely, Apple Pay is making its way across Europe and it may well turn up in Luxembourg someday. Easy to use, this solution works with the Apple mobile devices you use every day.<\/p>\n

When shopping, you make contactless payments by holding your device in front of the terminal. How the transaction is approved depends on the device (finger on the Touch ID reader for the iPhone, double-press the side button for the Apple Watch, etc.). For downloading apps or shopping online, just select Apple Pay as your means of payment (where available).<\/p>\n

Beyond Apple, the competition is shaping up and it\u2019s a safe bet that there will be even more electronic payment methods<\/strong><\/span><\/a> in the future. Stay tuned!<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The era of cheques, paper transfers, and even cash is rapidly receding. In recent years, cashless payment has been gaining momentum. Like its European neighbours, Luxembourg has witnessed a move towards faster, more practical electronic means of payment. Let’s take a look at the main solutions on offer. 1. NFC bank cards Introduced in Luxembourg … <\/p>\n

Continue reading “New electronic payment methods”<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":4318,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","beyondwords_generate_audio":"1","beyondwords_integration_method":"","beyondwords_project_id":"44704","beyondwords_content_id":"58a0a826-069f-47aa-93f4-39d283ccd51d","beyondwords_preview_token":"25a9213c-0f99-46ad-bebf-95b7cea9e6bc","beyondwords_player_content":"","beyondwords_player_style":"standard","beyondwords_language_code":"en_GB","beyondwords_language_id":"50","beyondwords_title_voice_id":"775","beyondwords_body_voice_id":"775","beyondwords_summary_voice_id":"775","beyondwords_error_message":"","beyondwords_disabled":"","beyondwords_delete_content":"","beyondwords_podcast_id":"58a0a826-069f-47aa-93f4-39d283ccd51d","beyondwords_hash":"","publish_post_to_speechkit":"","speechkit_hash":"","speechkit_generate_audio":"","speechkit_project_id":"","speechkit_podcast_id":"","speechkit_error_message":"","speechkit_disabled":"","speechkit_access_key":"","speechkit_error":"","speechkit_info":"","speechkit_response":"","speechkit_retries":"","speechkit_status":"","speechkit_updated_at":"","_speechkit_link":"","_speechkit_text":""},"categories":[37,135,137],"tags":[415,393,409],"class_list":["post-1933","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-me-and-my-family-en","category-daily-and-webbanking-en","category-budgeting-en","tag-budgeting","tag-online-bank","tag-daily-web-banking-en","my_family"],"yoast_head":"\nNew electronic payment methods - myLIFE<\/title>\n<meta name=\"description\" content=\"In recent years, cashless payment has been gaining momentum. 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