How the payment method works
iDEAL is the number one online payment brand in the Netherlands. It enables Dutch consumers to pay online through their own bank. Originally, iDEAL was designed for webshop payments, but nowadays it is increasingly used to pay energy bills, make donations to charities, buy mobile credits, pay local taxes, traffic fines etc. iDEAL provides an immediate online payment guarantee to the payee. This allows them to deliver the goods and services right away. The money is transferred via a SEPA Credit Transfer to the beneficiary. See https://www.ideal.nl/en/ for more information. We are in the process of expanding iDEAL with new payment flows and Value Added Services.
Target market
iDEAL is an online payment method, not specifically bound to target markets. Examples of branches which use iDEAL are ecommerce, marketplaces, ticketing, e-invoices, charity donations & top-ups.
Contact details
Email: ideal@currence.nl
Operational area
Worldwide for merchants; consumers with a EU bank account with one of the certified issuers
Year founded
2005
Investors
Currence is a private company which shares are held by the founding banks.
Reach
100% of the Dutch online shoppers and a few EU online shoppers uses iDEAL to pay
Acceptance
213,111 active merchants in 2021
Market share
70% In Dutch ecommerce
Implementation requirements (non technical)
Corporate bank account, Chamber of Commerce registration (at a minimum).
Company's motto
Provide payers the right balance in confidence and convenience, and provide payees with reach and conversion
Payment type
Online banking e-payments/Account-to-Account payments
Yes
Channels
Online
POS/In-store
Yes, via iDEAL QR
Omnichannel
Services
Settlement currencies
EUR
Processing currencies
Currency available for customers
Implementation requirements
Depending on the iDEAL contracting partner of the merchant
Chargeback/Buyer protection
No
Automated and instant refund
Reconciliation
Based on datafields provided by merchants
Pricing/Fees structure
Future developments
Major improvement of the iDEAL infrastructure to API technology. New services in scope: iDEAL Scheduled, iDEAL Checkout
Technology
Integration technology
XML, HTTPS
Integration support
Provided by acquirers, PSP's, various IT providers and the open source community
Transaction volume
Number of transactions
1.14 billion (2021)
Transactions value
EUR 99 billion (2021)