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iDEAL | |
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Developer(s) | Currence (Payconiq, ABN AMRO, Friesland Bank, ING Bank, Knab, Rabobank, Triodos Bank, Van Lanschot, De Volksbank) |
Initial release | 2005 |
Website | www |
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]
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 ]
The 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. [5]
European Payments Initiative (EPI) has announced that iDEAL will be replaced by its Wero payment service. [7] Wero is launched in Germany, France and Belgium in mid-2024 as a P2P payment solution, but the service will offer e-commerce/m-commerce payments from mid-2025. In April 2025 it was reported that the launch for Wero is expected by Wero by the end of 2027. [8]
The number of transfers processed:
Year | Transactions |
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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 |