News, Education and Events Decoding Digital Payments & Fraud

News, Education and Events Decoding Digital Payments & Fraud

iDEAL Has Record-Setting 2012 – Feb. 11, 2013

iDEAL Has Record-Setting 2012 

Feb. 11, 2013

European online payment system iDEAL recently reported 117.2 million payments were made in 2012, an increase of nearly 25 percent from the year before and more than the Dutch company has ever posted in its seven-year history. Total sales made using the iDEAL payment method jumped to 8.8 billion ($11.8 billion) in 2012 from 6.8 billion ($9.1 billion) a year earlier. The average value of an iDEAL transaction ticked up to 74.20 ($99.21) last year.

Given expected growth in online shopping, Currence, iDEAL’s parent company, projects continued growth in 2013, with a “major boost” coming from the increasing use of smartphones and tablets. The company noted the preference among consumers for paying with iDEAL is even higher for mobile devices than for traditional online shopping (69 percent for mobile versus 55 percent on average) and said it expects more banks to support iDEAL mobile this year.

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Daniel Leibovitch