Consumers will soon be able to save accounts details with iDEAL payment system

The payment system iDEAL is about to change. Anyone buying something from a webshop from April onwards can use new features, like saving your account and delivery details. The organization behind iDEAL wants to make use of the payment process a bit quicker with this option.

Additionally, it should also become possible to pay in installments in the future. The service is also looking to add a buy-now, pay-later feature.

The organization announced that over 300,000 connected web stores can already start switching to “the new iDEAL.” There will be another extensive consumer campaign in April. Later that month, the web shops can begin offering the new options.

This “means the end of repeatedly putting your details in when purchasing online,” says Amos Katar, chairman at iDEAL. He emphasizes that the new features will not come at the cost of privacy. Customer data will be stored centrally.

iDEAL has existed since 2005, and is involved in over a billion transactions annually. The system was owned for years by the three big Dutch banks ING, Rabobank, and ABN Amro.

iDEAL was taken over last year by the European Payments Initiative (EPI). This partnership of banks and payment institutions from various European countries wants to make iDEAL the basis of a new digital wallet called Wero, which will eventually replace iDEAL.