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

Payment methods such as debit, credit, and prepaid cards are widely used in the global financial system. While some developed European countries have embraced virtual payment methods, they have yet to become mainstream in most parts of the world.

Although alternative payment modes are gaining popularity, none are as universally accepted as cards, with the exception of A2A (Account to Account) transactions. These involve direct transfers between bank accounts and have adapted to local regulations. While simple for peer-to-peer transactions, large A2A transactions between companies can be complicated in certain countries.

However, in other nations, banks have streamlined the A2A process due to its benefits. In the Netherlands, for example, the iDEAL payment method allows customers and retailers to conduct A2A transactions easily. This has made it a popular choice in the eCommerce industry. The iGaming niche is a prime example and frequently uses iDEAL for fast and secure transactions. Take a look at this list of online casinos that accept iDEAL if you’re interested in legal online gambling.

Is iDEAL Still the Top Payment Gateway in the Netherlands?

Established in 2005, iDEAL is a Dutch payment provider that holds a dominant position in its country of origin with a 20% year-over-year growth rate in 2019. It can be used as a payment link on eCommerce sites or through a QR code at physical stores. The gateway is especially popular on mobile devices with over 80% of iDEAL transactions being made on-the-go.

The Rise of Third-Party APIs for A2A Transactions

As technology continues to advance, third-party APIs are gaining traction in the Netherlands due to their ability to offer valuable services to customers, such as enhanced safety measures and faster transactions while also providing crucial data for regulatory bodies. The authorities are taking note and have mandated banks to develop APIs that allow third-parties access to customer accounts and initiate payments with the client’s permission. This marks a turning point for the traditional iDEAL system.

Trustly’s Growing Impact on Dutch eCommerce

Swedish fintech company Trustly is revolutionizing virtual payments one step at a time! They operate in over 29 countries, serving more than 600 million people through online transactions, travel payments, iGaming transfers, and other financial services. Their innovative integration with BankID has made them a household name in the online gambling industry by eliminating lengthy operational procedures and enabling swift transfers to and from casino accounts.

Trustly partners with major companies across various industries such as Shopify and PayPal, gaining significant influence in land-based casinos. Dutch iGamers are in for a treat as Trustly is on track to overtake iDEAL as the preferred payment method at casinos. Despite its rapid growth, Trustly still can’t match iDEAL’s popularity in traditional industries where it maintains an edge…for now!