Summary iDEAL, a market leader in Dutch third-party payment services, was established by payment systems provider Currence in 2005. iDEAL offers online payments for Dutch domestic and international shoppers, enabling them to pay for online purchases directly from their bank accounts. iDEAL also enables consumers to carry out other transactions such as utility bill payments, mobile recharging, and donations.
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 were made through iDEAL in 2017.
It generates business by offering four types of transactions: domestic e-commerce payments (which accounted for 30% of total iDEAL payments made in 2016), cross-border e-commerce payments (16%), payments between consumers (4%), and non-e-commerce payments (50%).
Payments through iDEAL are supported by 12 issuing banks and financial institutions: ABN Amro, ASN Bank, bunq, ING, Knab, Moneyou, Rabobank, RegioBank, SNS Bank, Svenska Handelsbanken, Triodos Bank, and Van Lanschot Bankiers.In addition to issuing banks, the solution is supported by 11 acquiring banks and 58 payment institutions known as collecting payment service providers (CPSPs).
CPSPs act as intermediaries between acquirers and merchants.Of the 58 CPSPs, 23 are international service providers.
They allow Dutch consumers to pay for online purchases from foreign online merchants in more than 60 markets globally.
The report provides information and insights into alternative payment solution iDEAL including - - Detailed insight into its business - Comprehensive coverage of its products and services - Comparative assessment with key alternative payment solutions - Information on its performance, including its revenue model - The company’s important events and milestones.
Scope - In October 2005, iDEAL was founded. - iDEAL is based on online bank transfers. - In April 2016, launched iDEAL QR, enabling users to make payments at online and offline stores as well as for transport by scanning a QR code with their mobile phone. - In November 2018, ABN Amro users enabled to make payments by scanning an iDEAL QR code on their computer screens, with the actual payment carried out via ABN Amro’s mobile banking app.
Reasons to buy - Gain insights into iDEAL’s business operations 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.
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