iDEAL sets record for 2013

AMSTERDAM | iDEAL, the popular Dutch online payment method, sets a new record for 2013: over 142 million iDEAL transactions. Compared to 2012 a growth of 25 million iDEAL payments (+22%).


December 2013 Record Month

Due to the Dutch Holiday Shopping season including 'Sinterklaas' and Christmas, online sales flourished and resulted in a new milestone for iDEAL: 14.7 million transactions processed in December. Compared to the same period in 2012, this is an increase of 25%, slightly above the annual average growth percentage of 22%.


Growth Slows Down

iDEAL numbers have more than tripled compared to 2009 when 45 million transactions were processed.  The trend, however, is that the growth percentage is declining.  Currence, the iDEAL product owner, reported for 2012 an increase of almost 25% and for 2011 over 36 percent.  The years before it was 53% (2010) and 61% (2009). Still the number of iDEAL transactions shows strong growth and future looks bright.


iDEAL and Dutch Ecommerce Market

iDEAL has largely contributed to the growth of ecommerce in the Netherlands, which had roughly a 10% year-over-year growth the last 3 years. Taking into account the 22% growth for iDEAL, it seems iDEAL is gaining more marketshare and outperforming other popular payment methods like, MasterCard, Visa, Bank Transfer, PayPal, Acceptgiro and Pay-After-Delivery methods like AfterPay and Klarna. However, there is a clear trend that more and more internationally operating merchants offer iDEAL checkout towards their Dutch customers. A growing number of iDEAL transactions therefore do not relate to online spending domestically.


iDEAL 2014 outlook

Two major banks in the Netherlands have recently optimised the way consumers can checkout using iDEAL on their smartphones or tablets. Dutch mobile commerce already accounts for 11% of total ecommerce sales. The simplified iDEAL checkout is assumed to further boost mobile shopping and commerce. Given the early signs of limited economic recovery, online and mobile commerce growth trend, and iDEAL's strong position, we project the number of iDEAL transactions for 2014 around 172 million.


About iDEAL

iDEAL is an online payment method using real-time online bank transfers to complete online and mobile purchases. iDEAL's success is due to the fact that it is perceived as a secure online payment method by both customer and merchants. As a key driver for the usage of iDEAL, over 8 million Dutch people have online banking capability (Eurostats). There is no chargeback mechanism and merchants benefit from payment guarantee. Processing costs are fairly low in comparison to other online payment options and they are fixed (35-70 eurocents). In other words, it is a payment method that merchants can count on. Consumers feel confident using their familiar home banking and not having to share sensitive card data. All major Dutch banks support iDeal from both issuing and acquiring side. The acquiring licensees include ABN AMRO Bank, Rabobank, ING Bank, Friesland Bank (=Rabobank), Deutsche Bank and The Royal Bank of Scotland.


Visit Currence website for more information on the preferred online payment method in the Netherlands.





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