‘iDeal still available in the Netherlands in the coming years’

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The Dutch payment service iDeal is taken over by the European Payments Initiative together with its technology supplier Payconiq. According to owner Currence, iDeal should become the starting point for an international payment system. Nevertheless, iDeal will ‘really be available in the Netherlands for some time yet’, says Daniël van Delft, CEO of Currence.

Current owner Currence is transferring the system, which allows payments in web shops to be made directly from one’s own bank account, to the European Payments Initiative (EPI). This makes the system the basis of a new, pan-European payment system. ‘This is due to the success of iDeal,’ says Van Delft.

iDeal logo. Despite the takeover by the European Payments Initiative, iDeal will still be available in the Netherlands in the coming years, says Daniël van Delft, CEO of Currence. (ANP / ANP XTRA)

Also listen | Economy Update – iDeal will be the basis for an international payment system

The new European payment initiative will emphatically not be the same as iDeal, says Van Delft. ‘It will probably be based on the same model, but with additional functionalities.’ iDeal will also not simply disappear from the Dutch market. Van Delft does not want to mention a specific term, although previous reports refer to four years. ‘We have agreed guarantees about phased and controlled steps in which iDeal will switch to EPI, or whatever the system will be called, because there is no clarity about that yet.’

It is also not yet known what the European version of iDeal will be called. According to Van Delft, the name iDeal is very strong, but that only applies to the Netherlands. ‘It may be that this is less well known in other countries. We must be open to change.’

Van Delft does not expect that consumers will have to pay for the use of the European payment system in the future. ‘We as iDeal assume that this will remain free for consumers, the future will have to tell. For the retailer, a fixed rate will be linked to it. But that is already the case now.’

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