iDEAL once again the most indispensable financial brand in the Netherlands

Amsterdam, January 13. The iDEAL online transaction system, that is supported by practically all the Dutch banks, broke records again in 2010. The number of iDEAL transactions not only increased substantially, but consumer preference for this means of payment also continues to grow. More and more webstores (90%) are offering iDEAL as a payment method. The number of iDEAL transactions in 2010 increased by an impressive 52% to almost 70 million (2009: approx. 45 million). The total sales made with iDEAL last year amounted to more than €5.2 billion. The average iDEAL payment in 2010 had a value of approx. €75. These results made iDEAL the most popular online transaction system in 2010. (see diagram below).

Online shoppers continue to appreciate the iDEAL payment option. No less than 54% of online shoppers prefer iDEAL to any other means of payment (see diagram below). 

With more than 7.5 million transactions, December was easily the best month of 2010. Consumer satisfaction was also demonstrated in the results of a survey, ‘the Top 100 Indispensable Brands of 2010’, conducted by EURIB*. In this survey, iDEAL took first place above all the other financial brands. iDEAL came in 12th for all categories, ahead of famed international brands like Coca-Cola, Microsoft and McDonald’s.

As of December 2010, customers of Van Lanschot Bankiers can also make their online purchases with iDEAL, bringing the number of consumer banks providing iDEAL up to nine.

Expectations
The Netherlands holds a unique position in Europe with iDEAL. No other European country has such a successful online banking based payment system. iDEAL has provided a major impulse to the e-commerce market in the Netherlands. Once a system like iDEAL is adopted by banks in other countries it could also help to increase the growth of e-commerce, which is in line with the aims of the European Commission.

iDEAL is presently working on a model, together with similar systems in Austria and Germany, that is to lead to interoperability between the different countries’ transaction systems.
iDEAL is expected to continue to grow at a similar pace in 2011.

iDEAL is also collaborating with the online retailers association Thuiswinkel.org to find the best method of adapting iDEAL for smart phone use.

* The European Institute for Brand Management.
Eurib Top 100 Indispensable Brands of 2010