Paying online: we all do it. iDEAL has become impossible to imagine away when you check out online. In a while, though, we will have to say goodbye to it. What are the consequences for you as a consumer or website owner when iDEAL disappears? We lay it all out in this blog.
What is iDEAL?
iDEAL is a Dutch payment system that launched in 2005. At the time, there was no payment method that was accepted everywhere and had low transaction costs, which is very important with a steadily growing number of online sales. Back then, users and web shops could choose from a large number of online payment systems, such as Rabo Direct Betalen, KPN’s Switchpoint and the eWallet from ABN Amro. In 2004, a number of large Dutch banks announced the arrival of iDEAL, which was already being used for internet banking. This new system took away uncertainty and confusion among consumers. In 2006, the system was transferred to Currence, and in 2023 it was taken over by the European Payments Initiative: a European partnership of banks. The plan now, however, is that iDEAL will disappear in 2026. You can already see a number of changes to the payment method.
Around 70% of all e-commerce transactions in the Netherlands are paid with iDEAL, according to the system itself.
Why is iDEAL disappearing?
Last year, iDEAL was taken over by another party: the European Payments Initiative (EPI). They are working on a completely new payment system across all of Europe, called Wero. On top of that, the current version of iDEAL is outdated and no longer meets EPI’s future requirements. The changes that have already been made and the ones planned for iDEAL make sure the system complies with European guidelines and is future-proof. The new version of iDEAL is more flexible and can therefore adapt more easily to new technologies, until Wero is fully ready for implementation.
A number of changes have recently been introduced within iDEAL: you can select your bank on an iDEAL payment page that is always the same. It is also possible to create a profile with a preferred account and address details. That way the request goes straight to your banking app, which makes ordering and paying even easier. It also means you do not have to fill in your details all over again every time.
Other changes are that iDEAL is becoming an open standard: more parties, such as banks and payment providers, can offer the system. This can lead to more competition and lower costs for consumers. There is also a new iDEAL QR. You scan this code with your smartphone to make a payment easily. Finally, third-party verification has been introduced. The payer’s bank has to verify the payment for approval, which makes paying online safer.
What does this mean for your website or web shop?
iDEAL disappearing has consequences for every consumer and company that uses it. Companies, for example, will have to adjust their website and payment systems for the new payment method. In a few years, the system will move over to Wero. It is a matter of waiting until the major payment processors (Mollie, Adyen, and so on) have Wero available as a payment method. With a WooCommerce web shop, you probably will not have to set up the integration yourself. For now, it is a case of waiting until there is more clarity about the system. The payment service has to be at least as strong as iDEAL before the switch. No features may be missing and there must be no reduction in security around online payments. Wero is expected to arrive in 2026.
Was your web shop developed by JKC? Then we will make sure this is implemented the right way at launch.
