With iDEAL, customers can make e-commerce transactions, or transfer money to friends that don’t have an N26 account, without ever leaving the N26 app.
Digital bank N26 announced the integration of popular local payment service iDEAL to its 100% digital banking experience in the Netherlands. Available to the first N26 customers in the Netherlands from today, the new integration will be gradually rolled out in the market and will allow all Dutch N26 customers to make payments and transfers to friends easily through iDEAL without having to leave the N26 app. Additionally, the integration of iDEAL will allow customers to execute peer-to-peer payment requests through Tikkie – the most popular peer-to-peer payment service in the Netherlands.
Cashless payment adoption continues to climb in the Netherlands, with 91% of the population embracing digital payments and debit card usage. Used in around 70% of e-commerce transactions in the country, iDEAL is the most popular online digital payment service with over +1bn transactions per year. Having introduced the ability to top up N26 accounts directly with iDEAL in 2021, N26’s latest integration will allow customers the ability to unlock the full functionality of using iDEAL’s payment solutions directly within their N26 app.
With the integration of iDEAL, N26 customers will be able to buy and pay online with their N26 app without having to know the bank details of the beneficiary. Payment details will be filled automatically in the N26 app by scanning a QR code, or through payment links on e-commerce websites. Customers only need to review and confirm the payment within their app for the money to be transferred to the beneficiary’s account through a regular SEPA Credit Transfer. To be able to initiate this transfer, N26 leverages iDEAL’s relevant beneficiary details to proceed with regular compliance checks and execute the requested payment.
N26 AG is Europe’s leading digital bank with a full German banking licence. Built on the latest technology, N26’s mobile banking experience makes managing money easier, more secure and customer friendly. To date, it has welcomed more than 8 million customers in 24 markets, and processes over 100bn EUR in transactions a year. N26 is headquartered in Berlin with offices in multiple cities across Europe, including Vienna and Barcelona, and a 1,500-strong team of more than 80 nationalities. Founded by Valentin Stalf and Maximilian Tayenthal in 2013, N26 has raised close to US$ 1.8 billion from some of the world’s most renowned investors.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
