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ING Bank launches new payment service for Dutch e-commerce starters

This week ING Bank in the Netherlands launched a new in-house Payment Service Provider called the ING Complete Checkout (in Dutch: Kassa Compleet). The new payment service offers all major Dutch payment methods to ensure maximum conversion. The Dutch ecommerce market is expected to grow to 16.5 billion euro (18.2 billion USD) this year. 

Strong growth for Dutch E-commerce

Expectations are that for the whole of 2015, 143 million online purchases will be made in The Netherlands. In the first half of 2015, around 87% of the Dutch people had bought at least one item over the internet. Despite the maturity of the market and growing competition between online merchants, the number of new e-commerce shops has increased. In 2013, 9.000 new web shops started to sell online. Until the third quarter in 2015, already 6.400 new internet shops opened their business. 

Dutch Payment Methods

For new merchants it is of great importance to easily start selling online, accept payments and have the right offering of payment methods. The new payment service supports the following popular Dutch online payment methods: iDEAL, MasterCard, Visa, bank transfer, Maestro and V PAY.

Merchant Integration

The new ING Complete Checkout can be easily integrated with four of the major shopping carts including Prestashop, Magento, WooCommerce and osCommerce. Online businesses using e-commerce platforms like Shoppagina and MyShop can directly activate the new ING payment service and start accepting payments.

Merchants can open up a test account to see how the dashboard looks like, start with integrating the payment module and perform test transactions. The merchant dashboard has been optimised for mobile, tablet and desktop usage. Settlement of funds will be the next day. For more information, please visit the ING Kassa Compleet website (in Dutch).

Complete Checkout Pricing

The new payment service will be available for a monthly service fee of just over 11 euro, and includes the processing fee for 60 transactions. Between 60 and 250 transactions, the merchant will be charged 0.24 euro per processed transaction (for a compleet pricing sheet click here). In addition to the processing fee, the merchant pays the payment method commission. iDEAL transactions will be charged 0.35 euro for every transaction.

Merchants willing to accept MasterCard and Visa payments, will pay a commission of either 2.20% or 2.30% for MasterCard and either 2.45% or 2.55% for Visa. Whether the merchant pays the higher commission rate depends on the merchant industry and the time between order and delivery.

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Article sourced from Press Release by ING Bank, October 27th, 2015

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