What is iDEAL? Payment Processing Method Definition - Ikajo

What is iDEAL?

Merchant Form

The iDEAL is an e-commerce payment system based on online banking. It is the leading online payment brand in the еhe Netherlands. It enables Dutch consumers to pay online through their own banks. 

Founded in 2005, iDEAL allows customers to buy products and services online using direct online transfers from their bank account to the merchant’s bank account. Payments are performed through the mobile banking app or the online banking environment of the customer’s own bank. 

Offering iDEAL as a payment method is beneficial for those merchants willing to reach out to the Netherland audience. The money is transferred via a SEPA Credit Transfer to the beneficiary. Keep in mind that iDEAL is an alternative payment method. The Netherlands is the only country of incorporation of that payment method. 

What are the benefits of iDEAL for clients?

  • No registration or enrolling is required to use the service. You can directly use iDEAL if you are a member of one of the participating banks;
  • IDEAL is secure as one makes payments in the environment of his own banks;
  • Thanks to payment details pre-filled automatically, you instantly know if your payment succeeded or not;
  • You keep control of your balance; the iDEAL payment is immediately visible on your bank account statement.

How to offer iDEAL to your clients?

To offer iDEAL to your customers as a payment method, you need a reach out to iDEAL contracting Partner (Acquirer or PSP). For example, you can contact us. We can provide you with iDEAL as a payment method. The fees for iDEAL differ according to iDEAL Partner. Most often, it is a fixed fee per transaction. Some partners also offer a monthly subscription. This payment method is “ideal” for merchants because payments made via iDEAL cannot be reversed.

What is the iDEAL QR payment method?

Thanks to iDEAL QR, your customers can pay use smartphones to pay with the iDEAL. They scan the QR code either with their mobile banking app, the iDEAL app, a generic QR scanner, or their iPhone camera. Once they do that, they can confirm the payment easily by banking code, fingerprint, or face recognition. You, as a merchant, can display the QR code on a screen/collection box/receipt or invoice. 

What is the iDEAL payment link?

Besides QR codes and using iDEAL as a payment method in your online checkout, you can also send your customers an iDEAL payment link by Viber, email, WhatsApp, text message, or any other channel. 

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