iDEAL payments expected to grow in 2014 as well

Monday 27 January 2014 00:44 CET | News

Online payment method iDEAL has been used by more than 142.5 million times in 2013, up 21.6 % as compared with 2012 and its growth is expected to continue in 2014 as well.

The increasing use of smartphones and tablets was an important factor in the growth in the number of iDEAL payments.

Currence anticipates that the more intensive use of smartphones and tablets will contribute to the continued growth in the number of iDEAL payments in 2014. Although most people use their smartphone and tablet at home, these devices are increasingly being used to shop online on the move or at work. Currence expects to see the number of mobile purchases increase.

The iDEAL payment system is based on existing infrastructure with banks, which implies they can capitalise on their online banking application and customer base. It allows consumers to make online purchases within the familiar environment of their own bank. iDEAL is open to any bank to obtain a licence from scheme owner Currence. In the Netherlands iDEAL is by far the most popular online payment method.

In recent news, iDEAL has reached a new milestone by processing half a billion iDEAL payments by the end of November 2013.

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Keywords: iDeal, online payments, Netherlands
Categories: Payments & Commerce
Countries: World
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