Popular in the Netherlands
The Netherlands has made the IDEAl payment a very popular choice. This is a popular payment method for online payments. It has been noted that there may be 54 percent online payments made with IDEAL. This percentage is higher than the credit card use online. In the year 2006, there were approximately four million transfers and in the year 2007 this number of transfers rose to approximately 15 million. By the year 2008 the number of transfers rose even higher up to 28 million. There are many banks in the Netherlands that participate with IDEAL. These banks serve most of the Dutch online banking market.Merchants: Real-Time Payment Method
Merchants are offered a real-time payment method with IDEAL. This is viewed as a risk-free and low-cost method for the acceptance of internet payments. IDEAL is known for using the same environment as the online banking sites. The security includes two-factor authentication. Sensitive information is not shared. A merchant will offer IDEAL and the consumer simply selects their bank. The consumer is then redirected to the login page of their own bank. Their bank information is entered and the merchant will receive real-time confirmation of this payment.