What the iDeal acquisition can teach us about the future
'The acquisition of iDeal can be seen as an important step in working towards a new European payment standard.'- Kees- Jan van Vliet
IDEAL as basis for European payment system
Last week it was announced that the Dutch payment service iDeal has been acquired and will become the basis for a European payment system. We can be proud that this system, developed in the Netherlands, is recognized internationally as a best practice. The Netherlands has long been at the forefront of innovative payment solutions. This acquisition is part of a trend that these types of banking standards are becoming increasingly European.
Commercial purposes
As more and more purchases are made via the Internet, cross-border payment traffic is increasing. By creating a European payment standard, European financial institutions can better compete with large technological companies such as Apple, Google and Amazon. These companies, by the way, are very interested in payment traffic because it provides useful data, which can increasingly be used for commercial purposes. In the future, it may be possible to predict future spending based on payment traffic data. This will create all kinds of new opportunities for various businesses.
New European payment standard
The acquisition of iDeal can be seen as an important step in working towards a new European payment standard.
