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The Netherlands – an iDEAL way to pay

posted in Europe E-commerce, Payment Methods by

The Netherlands is an exciting market for merchants to tap into. Rather small in size, but constantly evolving and adapting to the new trends. Both online and offline. These trends include how customers prefer to pay online. iDEAL payment option is the key to reach the Dutch shoppers, and we’ll explain why.

Why the Netherlands?

With 96% of the country using the Internet and the growing population, e-commerce merchants see a huge opportunity here. In 2018, the country had more than 16,4 million Internet users, creating a market prone to innovation and modernization.

Total revenue of e-commerce sales reached 23.7 billion euros in 2018. The Netherlands ranks 5th in Europe in terms of using online retail, making it a perfect destination for merchants looking to reach European customers.

What do customers prefer?

Dutch customers are above average when it comes to online shopping. In 2017, 79% of Dutch shoppers aged 16 to 75 have shopped for goods/services online. To compare, the European average is only 57%.

The product category that generated the most revenue is clothing. Revenue generated from this category has reached 2293 million euros in 2017. Clothing is followed by IT and telecom products, food, shoes, and personal lifestyle products.

Dutch millennials are all about mobile. 90% of them use Internet on their smartphone, with more than half (53%) using it for shopping.

There is an abundance of payment options to choose from online. While the choices are endless, Dutch shoppers prefer iDEAL payment option. The payment option has a market share of 57%, making it #1 in the Dutch online market. At late 2018, it had more than 2 billion online payments. So, why is it so popular amongst shoppers?

Why iDEAL payment option?

The number one thing that separates iDEAL from other payment options is convenience. Customers perform a direct bank transfer in the familiar environment of their bank’s online banking system. Payments are safe, secure and reliable. Customers are familiar with the payment option and prefer to use it while shopping online.

What makes it even more convenient is the fact that the customers don’t have to create an account to make the payment. A simple login to customer’s online banking is all it takes. All the payments are tracked in the bank statement, making the process fully transparent.

Integrating iDEAL to your website doesn’t have to be cumbersome. By integrating with Alternative Payments, you can enjoy the benefits of smooth and convenient onboarding. Also, through a single contract, you can add any of the viable payment options and tap into new markets.

iDEAL payments are your key to reaching Dutch consumers. Alternative Payments provides iDEAL payment option, alongside with 27 others. By offering this payment option, you can rest assured that your customers will have a familiar, safe and reliable way to pay for your goods/services. What more could you wish for!

 

ideal, ideal payment, Netherlands

 

Reference list:

  1. https://www.statista.com/topics/4909/e-commerce-in-the-netherlands/
  2. https://www.statista.com/statistics/558214/yearly-online-consumer-expenditure-in-the-netherlands/
  3. https://www.sap.com/netherlands/documents/2018/11/acbb6001-2c7d-0010-87a3-c30de2ffd8ff.html
14 May, 19

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