Trust Payments Malta, a leader in fintech powering truly innovative customer commerce solutions across the EU, today announces it has become a Collecting Payment Service Provider (CPSP) with iDEAL, a payment method which has become the Dutch online payment standard since its launch in 2005.
More than 210,000 businesses offer iDEAL as an easy and secure way to pay spanning webshops, payment requests and (online) invoices. iDEAL is used for over 1 billion transactions each year, which amounts to around 3.5 million transactions per day, with over 6 million on peak days – 70% of all e-commerce transactions in the Netherlands are made using iDEAL.
Trust Payments securing the status of a CPSP with iDEAL means our merchants can enable their customers with the convenience to pay with one of the most recognised payment methods in the Netherlands and benefit from future product enhancements.
Currently, iDEAL is expanding its range of services to adapt to the changing shopping and payment behaviour of its customers, including plans for a transition and integration from iDEAL to Wero – a European digital payment solution built to meet evolving payment needs and to provide a seamless and user-friendly payment experience to consumers and merchants across Europe – set to be launched in Europe in 2024, by the European Payments Initiative (EPI).
Through the certification, Trust Payments will ensure that merchants using iDEAL can unburden much of the user experience with “the new iDEAL”. This includes having the bank selection page directly integrated into the payment method and gives customers more control over the payment experience through a unified and streamlined checkout experience. This will be a significant enhancement to the existing iDEAL integration that Trust Payments previously offered.