Monizze and Idemia Secure Transactions launch Monizze Pay in Belgium

Source: IDEMIA Group

Monizze, a leading Belgian fintech specializing in innovative and flexible employee benefits, and IDEMIA Secure Transactions (IST), a global leader in secure payment and connectivity solutions, together announce the launch of Monizze Pay, the first solution of its kind in Belgium, a new mobile payment feature that enables users to pay in-store with their smartphone using their Monizze vouchers.

Integrated directly into the Monizze mobile app, Monizze Pay brings the convenience of contactless mobile payments to meal, eco and gift vouchers, on both iOS and Android. The solution is powered by IST’s SaaS-based token platform and secure NFC wallet enablement through Host Card Emulation (HCE) technology.

Employees can use their everyday benefits without carrying a physical card, employers can offer a more convenient digital experience, while merchants can accept Monizze Pay through the existing Monizze card acceptance infrastructure.

A sovereign mobile payment experience for everyday benefits

As payment habits continue to shift towards mobile-first experiences, local payment providers need to offer the same level of convenience users expect from international wallets while ensuring regulatory compliance in their own ecosystem. Designed with this ambition in mind, Monizze Pay is the first solution of its kind in Belgium. It provides users with a simple and secure way to pay, while enabling Monizze to retain control over the customer journey, brand experience and payment environment. By operating independently of major international payment and digital wallet schemes, the sovereign solution also helps keep transaction costs under control for merchants, which is an essential need expressed by them.

“Monizze Pay is about more than adding a new payment feature. It demonstrates that a Belgian fintech can deliver the mobile experience consumers now expect while preserving an economic model that is requested by and works for local merchants,” said Jean-Louis Van Houwe, founder and chief executive officer of Monizze.

“We have listened to merchants who want a transparent and sustainable cost structure, with as few as possible intermediaries and costs in the payment chain. By combining Monizze’s understanding of the Belgian employee benefits market with IST’s payment technology expertise, we have laid the foundation for further innovation that can benefit the entire ecosystem.”

Enabling secure and independent digital payments

IDEMIA Secure Transactions provides the secure technology layer allowing Monizze cards to be digitized and used for NFC-based smartphone payments. IST’s tokenization platform replaces sensitive card data with unique digital tokens, securing each transaction while enabling a smooth contactless experience. Its HCE technology allows secure contactless payments to be embedded directly into the Monizze app on iOS and Android, without requiring users to go through an external wallet environment.

“At IDEMIA Secure Transactions, we believe local payment providers should be able to deliver seamless mobile payment experiences without giving up control over their model. By combining tokenization and Tap to Pay technologies, IST helps private-label card issuers, like Monizze, preserve their three-corner ecosystem and deploy sovereign digital payment services that are secure, scalable and built around their own users,” said Philippe Ledru, head of sales Europe for digital payment solutions at IDEMIA Secure Transactions.

From domestic schemes to private-label card issuers, IST enables payment ecosystem players to build secure, scalable and sovereign digital payment experiences adapted to their own market needs. With more than 500 million tokens provisioned worldwide spanning proximity, in-app and e-commerce transactions, IST provides the technology foundation for organizations seeking to modernize payments while preserving control over their infrastructure, user experience and data.

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