Half a billion iDEAL payments made last year; up 39%

Last year payment service iDEAL processed a total of 524 million transactions, an increase of 39 percent compared to the 378 million transactions in 2017, parent company Currence announced. This is the first time ever that more than half a billion iDEAL payments were made in one year, NU.nl reports.

The vast majority, 69.5 percent, of iDEAL payments were made with a mobile phone last year, thanks to the rapidly increasing popularity of mobile payments between consumers. Payment services like Tikkie accounted for 17.5 percent of iDEAL transaction.

iDEAL is an online payment method that allows consumers to pay for items through their own bank. iDEAL passed the 2 billion transactions mark in November, doubling its number of transactions in about two years. It took the payment service 12 years to reach the 1 billion transactions mark.