Alternative Payment Solution: iDEAL
iDEAL, a market leader in Dutch third-party payment services, was established by payment systems provider Currence in 2006. iDEAL offers online payments for Dutch domestic and international shoppers, and enables them to pay for online purchases directly from their bank accounts.
iDEAL also enables consumers to carry out other transactions such as utility payments, mobile recharging, and donations. In April 2016 it extended its services for offline payments with the introduction of iDEAL QR, allowing users to make payments at in-store locations.
In terms of transaction volume, iDEAL is the preferred method of online payment in the Netherlands. More than half of online purchases in the country are made through iDEAL. It generates business by offering three types of transactions: domestic e-commerce payments (which accounted for 35% of total iDEAL payments made in 2016), cross-border e-commerce payments (18%), and non-e-commerce payments (47%).
It is supported by payment providers Mollie, HiPay Direct, Datatrans, eMerchantPay, Paybox, Smart2Pay, Buckaroo, and Pay.nl. Consumers using these providers can also carry out transactions using iDEAL.
The report provides information and insights into alternative payment solution iDEAL, including -
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook