iDEAL introduces profile creation

Being part of its commitment to delivering increased security and improved experiences to both consumers and online retailers, the move aims to advance iDEAL’s development strategy. The company provides speed by allowing webshops to receive address details directly from the iDEAL profile, which can lead to increased conversion and customer satisfaction. Also, the process is more secure due to consumer data being stored in the stable iDEAL system and not on each online retailer’s. In addition, the company does not charge any further fees for these new iDEAL features, while data is set only to be shared with the consumer’s consent.

Furthermore, iDEAL intends to launch the profile feature in phases, with ING customers being able to create accounts from 17 April 2024, ABN AMRO users at a later determined date, and customers at other banks as of the announcement. The move to introduce the new capabilities follows consumer demand and webshop owners. According to officials, by adding profiles, iDEAL aims to further improve how people make and receive payments. The company intends to remove the need to fill in address details with every purchase, thus simplifying the checkout process. When it comes to online retailers, the features of iDEAL focus on delivering several advantages, including increased conversion rates. The accelerated checkout process enables consumers to go through a decreased number of steps to complete their purchases.

Also, the current announcement does not interfere with previous payment methods provided by the company, with iDEAL still allowing customers to leverage its traditional methods to conduct payments. The flexibility aims to ensure that iDEAL users have the ability to choose the payment method that best suits their requirements and needs. Moreover, the iDEAL profile is secured by the customer’s bank, having the same standards that apply to all their banking. Personal details are set only to be shared with online stores after the customer offers explicit permission.

Prior to the current news, iDEAL introduced a profiles pilot in collaboration with Rabobank. As part of the trial phase, members of Rabobank’s online community, Rabo-Labs, were set to have the ability to create an iDEAL profile and experience simplified payments at selected online merchants.

Source: Link