Up to now, the iDEAL system was based on transfers between Dutch bank account numbers. As a result, a bank or payment institution had to be connected to the Dutch payment infrastructure. This is no longer necessary. With the introduction of the SEPA standards, a European infrastructure has been created in which domestic and foreign transfers take place in the same way. This enables foreign providers to participate more easily in the iDEAL payment process.
In the coming months, webshops and other organisations that accept iDEAL as a method of payment should adapt their systems. They have until 1 August 2013 to implement these adjustments.
Currence anticipates more foreign parties for iDEAL
Although iDEAL is already accepted in many foreign webshops, Currence anticipates that the SEPA-compatible version of iDEAL will ensure that more foreign parties will offer iDEAL. This expands the opportunities for consumers to easily and securely pay for their cross-border purchases online.