iDEAL to introduce buy now, pay later system in the Netherlands

From April, a new update to the iDEAL payment platform in the Netherlands will mean that those wishing to purchase items online will be able to access new features such as the ability to save banking information. The company is also set to introduce a buy-now-pay-later option as part of the platform. 

iDEAL update will be available in April 2024

The update will be available for all users from April 2024 and will allow users to access new features that make shopping online even more convenient. The new features include the ability to buy now and pay later, such as with other finance platorms such as Klarna, as well as the ability to save details related to your bank account to use again in the future for other online payments, as well as saving other useful data such as your delivery address. 

The organisation behind iDEAL says that it hopes the new features will make online payments faster and more convenient for users in the Netherlands, while still retaining the security that the iDEAL platform is known for. 

Over 300.000 webshops in the Netherlands can already start switching

The switching process has already begun for around 300.000 Dutch webshops, which can already begin the process of switching from the old iDEAL system to the new one. The organisation has confirmed that there will be a big public campaign from April to make more businesses and consumers aware of the change. 

The update “means the end of repeatedly putting your details in when purchasing online,” says Amos Katar, chairman at iDEAL. He stresses that the new features will not come at the cost of privacy, as customer data will be stored centrally.

Thumb image credit: Jarretera / Shutterstock.com