Trustly’s Latest Developments to be a Good Substitute for iDeal

Cards, both debit and credit, are widely used for payments worldwide. While some developed European countries have adopted virtual payment methods, the trend has yet to catch on globally.

Although alternative payment modes exist, none are as widely accepted as cards. However, A2A (Account to Account) transactions have gained popularity in recent years. These direct bank transfers have evolved according to local regulations and can be complex for large transactions between companies.

But in some nations, banks have simplified the A2A process due to its benefits. For example, the Netherlands uses the iDEAL payment system for A2A transactions between customers and retailers. It has become a popular choice in the eCommerce industry, including online casinos that offer iDEAL as a secure and efficient payment option. To try your luck at legal online gambling, check out our list of online casinos that accept iDEAL.

Is iDEAL the Most Popular Payment Gateway in the Netherlands?

Founded in 2005, iDEAL is a leading Dutch payment provider with a recorded growth of 20% YoY in 2019. The system can be accessed through a payment link on eCommerce sites or by scanning a QR code at physical stores. It is especially popular on mobile devices with over 80% of transactions made on-the-go.

The Rise of Third-Party APIs for A2A Transactions

As technology advances, third-party APIs are gaining traction in the Netherlands due to their valuable services, including enhanced safety standards, quicker transactions, and data collection for regulatory bodies. These authorities are also stepping up their game by mandating banks to develop APIs under the Payment Services Directive (PSD2), allowing third parties to access customer accounts and initiate payments with their permission. This shift marks a turning point for the traditional iDEAL system.

Trustly: Revolutionizing Virtual Payments in Dutch eCommerce

Swedish fintech company Trustly is making waves in the world of virtual payments! Operating in over 29 countries and serving over 600 million people, Trustly offers innovative solutions for online transactions, travel payments, iGaming transfers, and other financial services. Their integration with BankID has made them a household name in the online gambling industry as it eliminates lengthy procedures and enables quick fund transfers to and from casino accounts.

Partnering with major companies like Shopify and PayPal has further solidified Trustly’s influence across industries. It is quickly gaining popularity among land-based casinos in the Netherlands as it competes with iDEAL for the top spot as the preferred payment method. Despite its growing presence, Trustly still falls short of iDEAL’s dominance in traditional sectors, but that may change soon!