The Dutch have a clear payment method of preference in the bank transfer option iDeal. 100 million transactions have been paid via iDeal in the first six months of 2015. This is 23% increase over the same period last year.
54% of all e-commerce purchases are paid using iDeal.
The following chart displays the breakdown of e-commerce transactions by payment type:
Why have consumers and merchants adopted iDeal for e-commerce?
Shoppers like it primarily because of security of the method. They select iDeal payment option at checkout and are taken to their bank website or app. They can complete the transaction from a pre-populated form. The user was able to make a payment without sharing their banking information with the merchant’s website.
Merchants like this type of SEPA credit transfer because it cannot be reversed so no chargebacks to deal with.
iDeal is likely here to stay and even appears to have avenues of growth ahead as mobile commerce increases. All of the major banks in the Netherlands (including ABN AMRO, Rabobank, ING Bank) support iDeal from their mobile apps.
Contact a account executive at AlternativePayments.com if you would like to add iDeal as a payment option on your online shop.
Research taken from the eCommerce Payment Monitor press release found on iDeal.nl (in Dutch)
Further information in English can be found at About-Payments.com