Six Dutch banks have come together to announce a joint initiative to launch the Payconiq payment app in the Netherlands this summer, according to a press release.

Payconiq is a mobile payment service that enables online, on-the-go and one-on-one payments. The Dutch launch follows a successful pilot phase and introduction in Belgium, with ING, KBC, CBC and Belfius banks supporting the platform, according to the announcement.

Institutions involved in the Netherlands pilot include ABN AMRO, ASN Bank, ING, Rabobank, RegioBank and SNS.

Payconiq facilitates transactions by integrating all payment methods in the app. Payments can be executed with online merchants, bricks-and-mortar shops and individuals. The app connects directly to the user's checking account at participating banks.

IBAN details for payments between family and friends are no longer required, as these are generated automatically after selecting the beneficiary from a contact list in the phone, according to the announcement.