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Payment method iDeal

Billionth transaction via Dutch payment method iDeal

Online payment method iDeal from the Netherlands registered the billionth transaction that happened via its system. The milestone was reached during King’s Day in the Netherlands, the national holiday that marks the birth of King Willem-Alexander. The online payment system has a market share of 56 percent and is being used since 2005.

The milestone was shared by iDeal, which announced the billionth transaction happened at a New York Pizza franchise during King’s Day on the 27th of April last month. According to iDeal, the amount of transactions increased by almost 25 percent during 2015.

Betaalvereniging Nederland, which facilitates iDeal together with the national banks, thinks we can expect a strong growth in mobile payments. All banks in the Netherlands now offer the option to pay for mobile orders with the payment method iDeal. Last year, the number of mobile payments in the Netherlands increased by 53 percent. “A quarter of all iDeal payments is already done using a smartphone or tablet”, says Piet Mallekoote, manager of Betaalvereniging Nederland. “This will only increase in the near future, as consumers increasingly use their mobile devices for shopping, ordering and completing purchases.”

iDeal gets popular across the border

According to the European Institute for Brand Management, iDeal is one of the most indispensable brands in the Netherlands, together with major brands such as Hema and Albert Heijn. The local payment method is also being used in foreign web stores in more than fifty different countries around the world. As a matter of fact, one in five payments that are completed usingĀ  iDeal, takes places at a foreign ecommerce website.

With a market share of 56 percent, iDeal is the most popular online payment method in the Netherlands.

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