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.”
With iDEAL, N26 will aim to “deliver an even more secure, seamless and complete online banking experience for its Dutch customers”
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 reportedly one of the most popular online digital payment services “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.”
Jérémie Rosselli, General Manager N26, France & BeNeLux, said:
“We are very proud that from today, our Dutch customers will be able to use iDEAL with their N26 account. Simple, instant and secure, this localized solution specifically for the Dutch market will make paying online with N26 more seamless than it has ever been.”
Daniel van Delft, CEO of Currence iDEAL, is pleased with the integration of N26 into this ecosystem:
“The inherent innovative attributes of iDEAL align well with those of a neobank like N26. Both organizations are resolute in their commitment to consistently enhance the sector. We take pride in being able to cater to the needs of N26 customers, offering them the reliability that countless organizations already rely upon.”
An important step to make N26 the primary bank account for Dutch customers
Bringing popular local payment solutions like iDEAL to the N26 experience is a crucial step to help accelerate N26’s growth in the Netherlands, “as it gives customers one more reason to choose N26 as their primary bank account.”
Jérémie Rosselli added:
“We know that integrating localized solutions like iDEAL are important investments that help us build a more relevant and tailored product for N26’s customers in our key markets. We will continue to work to deliver an even more seamless banking experience for our 300,000 Dutch customers.”
As covered, N26 AG claims that it “is Europe’s leading digital bank with a full German banking license.”
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.”