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Alternative Payment Solution: iDEAL

Alternative Payment Solution: iDEAL

Synopsis

iDEAL, a market leader in Dutch third-party payment services, was established by payment systems provider Currency in 2006.

iDEAL offers online and mobile payments for Dutch domestic and international shoppers, and enables them to pay for online purchases directly from their bank accounts. It provides payment services to merchants in more than 50 markets globally which sell to Dutch customers. iDEAL also enables consumers to carry out other transactions such as utility payments, mobile recharges and donations.

The company 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.

Summary

The report provides information and insights on alternative payment solution iDEAL, including:

  • Detailed insight into its business and geographical presence
  • Comprehensive coverage of its products and services
  • Comparative assessment with key alternative payment competitors
  • Information on its performance, including its revenue model
  • The company's important events and milestones
Scope
  • This report provides a comprehensive overview of alternative payment solution iDEAL, including its operations, history and geographical presence.
  • It provides an overview of products and services offered, and explanations on how they work.
  • It provides details of financial performance, including revenue models.
Reasons To Buy
  • Gain insights into iDEAL's business operations, geographical presence and key events.
  • Gain insights into its product portfolio and revenue model.
  • Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.
Key Highlights
  • In October 2013, Dutch bank ING’s mobile banking app offered customers an iDEAL payment option, enabling ING customers to make iDEAL payments from their bank accounts.
  • iDEAL remains the most preferred mode of online payment, in terms of transaction volume, in the Netherlands. More than half of online purchases in the country are made through iDEAL. Nearly 96% of large and 71% of smaller online retailers in the country accept payments via iDEAL.
  • iDEAL is offered by 10 issuing and seven acquiring banks, as well as 58 payment institutions known as collecting payment service providers (CPSPs). CPSPs act as intermediaries between acquirers and merchants. Of the 58 CPSCPs, 19 are international service providers. They allow Dutch consumers to pay for online purchases from foreign online merchants.


Company Overview
Geographical Presence
History Milestones
Comparative Assessment with Key Alternative Payment Competitors
Performance Highlights
Revenue Models
Products and Services
Latest Significant Events

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