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

In the world of finance, debit, credit, and prepaid cards reign supreme as the most commonly used payment methods. While some developed European countries have embraced virtual payments, the trend has yet to catch on globally.

Despite the popularity of alternative payment options, none can match the widespread acceptance of cards, except for Account to Account (A2A) transactions. These direct transfers between bank accounts have evolved according to local regulations and can be complex in some cases.

However, in other countries, banks have simplified A2A transactions due to their many advantages. For example, in the Netherlands, customers and retailers can use iDEAL for quick and secure A2A payments. This system has become a favorite among eCommerce sites and online gambling platforms alike. Check out our list of online casinos that accept iDEAL if you’re interested in legal online gambling.

Is iDEAL the Most Popular Payment Gateway in the Netherlands?

Founded in 2005, iDEAL is a Dutch payment provider that currently holds a dominant market share. In 2019 alone, it recorded a growth rate of 20%. The system is available as a payment link on eCommerce sites and as a QR code at physical stores. It’s also highly popular among mobile users, with over 80% of iDEAL transactions being made on-the-go.

The Rise of Third-Party APIs for A2A Transactions

With advances in technology, third-party APIs are gaining traction in the Netherlands. These APIs offer customers a variety of benefits, including improved security and faster transactions, while providing regulatory bodies with valuable data. In line with this, the Payment Services Directive (PSD2) now requires banks to develop APIs that allow third-parties to access customer accounts and initiate payments with their consent. As a result, traditional systems like iDEAL are slowly losing their dominance.

Trustly’s Growing Impact on Dutch eCommerce

Swedish fintech company Trustly is revolutionizing virtual payments one step at a time! From online transactions to travel payments, iGaming transfers, and other financial services, Trustly operates in over 29 countries and serves more than 600 million people. Its integration with the BankID system has made it a household name in the online gambling industry as it eliminates lengthy procedures and enables quick fund transfers to and from casino accounts.

Trustly partners with major companies across various industries such as Shopify and PayPal, and its influence is also growing in land-based casinos. Dutch players can expect an exceptional experience as Trustly aims to surpass iDEAL as the most preferred payment method at casinos. However, despite its growing popularity, Trustly still has a long way to go before it can match iDEAL’s dominance across traditional sectors.