In the next in our series on alternative payment methods we look at the popular Dutch payment, iDEAL
The Dutch are enthusiastic internet users and online shoppers. Internet penetration in the Netherlands stands at 95 percent whilst 80 percent of Dutch people shop online, according to the Ecommerce Foundation.
Logistics on the ground in the Netherlands are good, so around one-in-three online purchases is with a cross-border seller. Encouragingly for foreign e-tailers, cross-border sales are growing 20 percent.
When it comes to payments, if you’re selling online in the Netherlands or trying to appeal to Dutch e-shoppers, then accepting iDEAL is a must. 57 percent of online purchases are made via this bank transfer method. That equated to 378.2 million transactions (more than 30 million per month), totalling €33 billion in 2017.
What’s more iDEAL is growing faster than e-commerce in the Netherlands. Web shops in more than 60 countries worldwide offer iDEAL as a payment method to Dutch consumers. Merchants report substantially higher conversion rates — up to 90 percent — as soon as they add iDEAL as a payment option, claims iDEAL.
How CashFlows can help
The internet conflates distance, allowing you to offer your products and services worldwide. But if you’re only accepting international credit, debit and prepaid cards on your site, you risk losing customers.
CashFlows can offer a variety of ways to pay, helping you convert more sales from more customers more of the time. That’s everything from traditional cards to local alternatives and sector-specific options.
We simplify integration and can offer advice on best alternative payment methods bundles. So, contact us today at firstname.lastname@example.org to learn more about optimising online presence in your key markets.