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iDEAL is an e-commerce payment system used for online banking in the Netherlands. Previously controlled by the Dutch e-commerce organization Currence since 2006, the company became owned by the European Payments Initiative (EPI) from October 2023.[1]
 | |
| Developer(s) | Currence (Payconiq, ABN AMRO, Friesland Bank, ING Bank, Knab, Rabobank, Triodos Bank, Van Lanschot, De Volksbank) |
|---|---|
| Initial release | 2005 |
| Website | www |
It is an online payment method that enables consumers to pay online through their own bank. In addition to online merchants, other organisations that are not part of the e-commerce market also offer iDEAL.[citation needed]
History
editThe system was conceived by the Dutch banks ABN Amro, ING Bank, Postbank N.V. and Rabobank, to develop a single system for online payments that could be used by all banks. The payment platform was opened to consumers in 2005.[citation needed]
In 2006 the consortium moved the iDEAL brand to the Dutch banking organization Currence.[2] Nine years after claiming to be responsible for 54% of the country's online payments, iDEAL reported having 70% of this market in 2023.[3]
In the same year, the European Payments Initiative acquired iDEAL and Payconiq International, as well as new shareholders, for the upcoming launch of its instant payment solution. iDEAL is to become a European payment account-to-account (A2A) instant payment scheme and a multi-faceted digital wallet.[3][4][5][6]
EPI will initially enable person-to-person (P2P) and person-to-professional (P2Pro) payments, followed by online and mobile shopping payments and then point-of-sale payments. A comprehensive range of transaction types will be supported, including one-off payments, subscriptions, installments, payments upon delivery and reservations. Additionally, value-added services will be incorporated into the solution over time, including responsible ‘Buy Now, Pay Later’ (BNPL) financing, digital identity features and integration of merchant loyalty programmes.[7]
European Payments Initiative (EPI) has announced that the commercial name iDEAL will be changed to wero. wero is scheduled to launch in France, Germany and Belgium in mid-2024, followed by the Netherlands. The rest of Europe will follow in subsequent years.[8]
Transaction statistics
editThe number of transfers processed:
| Year | Transactions |
|---|---|
| 2006 | 4.4 million |
| 2007 | 14.9 million |
| 2008 | 27.8 million |
| 2009 | 45.4 million |
| 2010 | 68.8 million |
| 2011 | 93.9 million |
| 2012 | 117.2 million |
| 2013 | 142.5 million |
| 2014 | 180.2 million |
| 2015 | 222.0 million |
| 2016 | 282.6 million |
| 2017 | 378.1 million |
| 2018 | 523.8 million |
| 2019 | 666.9 million |
| 2020 | 890.3 million |
| 2021 | 1.14 billion |
See also
editReferences
edit- ^ "EPI successfully completes acquisition of iDEAL and Payconiq International". Payconiq. Retrieved 25 November 2023.
- ^ "Banken dragen merk Ideal over aan Currence" [Banks move Ideal brand to Currence] (in Dutch). Emerce. 2 November 2006.
- ^ a b "Dutch payment processor iDeal to become European standard". NL Times. Retrieved 25 April 2023.
- ^ "EPI Company announces new acquisitions and shareholders". thepaypers.com. Retrieved 25 April 2023.
- ^ Dumitrescu, Irina (25 April 2023). "[GLOBAL] EPI Company announces acquisitions, additional shareholders and the coming launch of its new instant payment solution". European Payments Initiative. Retrieved 25 April 2023.
- ^ agency, Acato Digital (25 April 2023). "iDEAL Becomes More Ideal". iDEAL. Archived from the original on 25 April 2023. Retrieved 25 April 2023.
- ^ Dumitrescu, Irina (25 April 2023). "EPI Company announces acquisitions, additional shareholders and the coming launch of its new instant payment solution". European Payments Initiative. Retrieved 23 October 2023.
- ^ Dumitrescu, Irina (21 September 2023). "European Payments Initiative selects "wero" as commercial name for its innovative digital wallet". European Payments Initiative. Retrieved 23 October 2023.
- ^ "Key Figures - iDEAL payments". iDeal. Archived from the original on 5 January 2018. Retrieved 18 April 2023.
- ^ "Strong growth of iDEAL, iDIN and e-mandates in 2021". Currence. 2 February 2022. Retrieved 18 February 2024.