AMSTERDAM | Online payment method iDEAL has reached a new milestone. Thanks to a considerable increase in the number of iDEAL payments, the magical threshold of half a billion iDEAL transactions was passed at the end of November.
Most Popular Payment Method in the Netherlands
It has become the most widely-used online payment method for e-commerce in the Netherlands, being used more than 13 million times per month for online transactions. This is an increase of around 20% compared to last year. iDEAL has been in existence for 8 years now, is currently generating 140 million payments per annum, and as a result has given a huge boost to the turnover of webshops.
Growth in number of iDEAL payments accelerating
“The growth in the number of iDEAL payments is also accelerating. The first milestone of 250 million transactions was reached after a period of six years. Only two years was needed to double this," says Piet Mallekoote, director of Currence, owner of iDEAL. "In view of the growth and development of iDEAL, we expect that the milestone of 1 billion iDEAL payments will be reached in the summer of 2016.” Consumers and merchants are seeing clear benefits in the use of iDEAL: safe, fast and user-friendly.
Mobile version of iDEAL
This year, a mobile version of iDEAL became available, for m-commerce payments using smart phones or tablets. This is already very popular with users, and Currence therefore expects that the number of transactions for m-commerce will greatly increase.
More and more Non-Dutch Merchants Accepting iDEAL
The number of foreign payment institutions offering iDEAL to foreign webshops also continued to increase in 2013. iDEAL is now being used in more than 50 countries. In Belgium, for example, iDEAL is accepted as a payment option in half of all webshops. This enables Dutch consumers making cross-border purchases also to pay safely and easily using iDEAL.
The iDEAL payment system is based on existing infrastructure with banks, which implies they can capitalise on their online banking application and customer base. It allows consumers to make online purchases in a swift and secure way within the familiar environment of their own bank. iDEAL is open to any bank to obtain a licence from scheme owner Currence. In the Netherlands iDEAL is by far the most popular online payment method.
Loes Romeijnders, Communication Advisor iDEAL, telephone +31 (0)20 305 19 83, email@example.com
Sourced from Currence, December 17th, 2013.