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Increasing dynamism in payments

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The Dutch Payments Association is publishing its 2015 annual report (in Dutch) today. It finds that dynamism and innovation in Dutch payments are increasing. Digital direct debit mandates were introduced and contactless payments (in Dutch) gained considerable momentum. Preparations were also made for the introduction of Instant Payments, iDEAL QR and iDIN.

Title page with text 'Annual Report 2015' on white background with light blue geometric areas.

Contactless payments increased by almost 25% per month (in Dutch) in 2015. The first pilots with iDEAL QR codes (in Dutch) and iDIN began in early 2016. iDIN allows bank customers to identify themselves online and log in securely using their own bank (in Dutch) to other organisations on the web. From early 2019, Instant Payments will make it possible to transfer money between two different Dutch banks within seconds.

Introduction of the European PSD2 directive sets the tone

In the run-up to the introduction of PSD2, the second Payment Services Directive, many individual innovations also emerged in 2015 through various mobile payment apps and new online banking capabilities. In its annual report, the Dutch Payments Association expects PSD2 – the new European directive for payment services provided by banks and non-bank payment institutions – to continue having a major influence on Dutch and European payments in the years ahead.

PSD2 further opens the payment services market to new non-bank entrants. From 2018, European banks will be required to make their customers’ payment accounts accessible to payment service providers with limited licences when account holders give their consent. Over the past two years, around ten non-bank fintech companies that will be able to access bank customers’ payment accounts under PSD2 have become members of the Dutch Payments Association.

Continued growth of iDEAL

October 2015 marked exactly ten years since consumers could first pay securely and reliably with iDEAL through their own bank. The number of payments using the Netherlands’ most popular online payment method has continued to grow rapidly ever since, at 25% per year. This sustained growth meant that the billionth iDEAL payment (in Dutch) could be processed on King’s Day 2016. A pilot began in early 2016 to use iDEAL QR codes for payments in shops, on the street and at the door, enabling iDEAL to continue growing over the coming decade.

Higher availability and stable fraud

Despite the strong growth in the use of electronic payment methods in 2015, the availability of the required infrastructure increased, while fraud involving online banking and debit card payments remained stable.

Download the Dutch Payments Association’s full 2015 annual report (in Dutch)…

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