iDEAL QR, the next step!

iDEAL is swift, reliable, and efficient. It took over 10 years to reach the milestone of a total of one billion iDEAL transactions in 2016. Less than three years later, in November 2018, the 2-billion transactions milestone was reached. iDEAL and its partners are very pleased with this exceptional success. Also in 2018 the consumers prefer to pay with iDEAL in ecommerce. The market share of iDEAL in eCommerce is 59%. Next to iDEAL the second preferred payment method is the credit card, with a market share of 10%.

The average transaction amount increased every year up to 2017; in 2018, the average amount decreased for the first time (from EUR 87.59 to EUR 81.94). Given the growing popularity of relatively small payments between consumers (C2C payments), the share of C2C payments in the total number of iDEAL transactions increased from 4.3% in 2017 to 14.2% in 2018.

iDEAL is used in a variety of market segments: in ecommerce (in the Netherlands and abroad in more than 60 countries), for payments between consumers (C2C), and for consumer payments outside of ecommerce. This last category forms the largest segment of all iDEAL payments (44% of payments, 50% of the turnover). This includes transactions for (e-)invoices, purchase of games, top-up of wallets, and donations to charities through payments requests.

A quick overview of some statistics:

• For several years, iDEAL has consistently ranked first among the financial brands and within the top 5 of the strongest and most indispensable brands in the Netherlands;
• iDEAL is offered as a payment method in more than 136,000 web shops and at other organisations in more than 60 countries worldwide;
• AliExpres, Amazon, Apple, Facebook, and Google also offer iDEAL to their Dutch customers;
• Over 98% of Dutch online banking users can pay with iDEAL;
• iDEAL conversion is around 90%;
• Close to 80% of the iDEAL payments are authorised by the customer in his mobile banking app, providing a fluent flow.

Mobile payments with iDEAL

The best user experience is with iDEAL mobile payments, where iDEAL payments are authorised in the mobile banking app simply with a fingerprint, face recognition, or a pin code. The increased ease-of-use for consumers is reflected in higher conversion rates – 90% – for iDEAL payments via mobile banking apps. At this moment, about 74% of the iDEAL payments are processed via banking apps.

The blurring line between online and physical shopping triggered the introduction of iDEAL QR for payments in the physical world.

Everyone can pay with iDEAL QR!

All major Dutch retail banks can now scan iDEAL QR codes within their mobile apps: ABN AMRO, ING, Knab, and Rabobank. However, iDEAL QR codes can also be scanned with a generic scanner. As a result, every Dutch mobile banking customer can pay with iDEAL QR! That’s about 10 million people out of a total of 13 million self-reliant adults in the Netherlands.

Opportunities

iDEAL QR codes offer new opportunities. Think about faster and error-free payment of (e-)invoices: simply add an iDEAL QR code on the invoice. Your invoicing becomes more efficient and customers pay faster.

Merchants and charities can show an iDEAL QR code in many ways: on web pages, on printed receipts, on TV screens, in advertisements, on billboards, on (printed) invoices, and so on.

Merchants can point out to their customers that they can pay with a QR code with the new iDEAL QR logo or add an actual iDEAL QR code on top of the bank selection list for iDEAL. An iDEAL QR code on a paper invoice, with the iDEAL logo in the middle, speaks for itself. 

About Monique van der Horst

Monique van der Horst is Product Consultant iDEAL in Team Online at Currence. Monique is a payment expert in digital payments with a broad background in cards, online, and mobile payments.

About Amos Kater

Amos Kater is Head of Team Online at Currence. Amos has a broad background in payments, telecom, and identity management.

About iDEAL

iDEAL is a banking payment method. The scheme management of iDEAL is vested with Currence, the product owner of iDEAL, iDIN, and Incassomachtigen (eMandates).