iDEAL Review

E-payments are ultimately convenient as compared to the traditional methods of payments such as cheques and cash. Since you can pay for services and products online regardless of location, you no longer need to wait for long hours in line and wait for your transactions. E-payments also get rid of security risks that usually come with handling money.

When it comes to this particular kind of payment, the iDeal is worthy of all the good comments and feedback. The iDeal is one of the leading e-commerce payment systems widely used in the Netherlands which is also noted to go far beyond the use of credit cards. This payment method was originally introduced in the year 2005, and such a method enables customers to purchase online with the use of direct online transfers from the customers’ bank account.

What does iDEAL provide?

iDeal remains a popular online payment method in the Netherlands catering to millions of transfers over the years. As for the record, total payments have exceeded 1 billion in 2016. iDeal provides merchants real-time payment techniques and publicized as virtual risk-free and low-cost to accept online payments. As for the customers, iDEAL makes use of a similar environment as online banking sites of their banks. A high and reliable level of security is fully realized by utilizing two-factor authentication or 2FA like challenge-response access tokens based on a chip that’s embedded in ATM card or debit card.

Moreover, there is no sensitive data being imparted to the vendor such as the credit card number. There is also no chargeback right, and this can somehow be considered as a drawback for consumers utilizing this payment method. However, this is viewed as a real advantage for the merchants.

How do you use it to iDEAL?

This online payment method works in many significant ways. The merchant can offer iDeal as payment methods, consumers choose iDeal and choose their bank, consumers are redirected to the log-in page of their banks, and participating banks displays transaction and the customers will enter the account number and then sign the transaction digitally with the use of the 2FA token.

The bank authorises the transaction in real-time and deducts the amount of money directly from the account of the consumer. But individuals have to note that if they do not have a sufficient balance, their transactions will be declined. Consumers will then be directed back into the exclusive merchant page with the confirmation that payments have been made successfully.

So if you are looking for a reliable and convenient e-payment method, iDeal really is an ideal choice.