Fintech & Ecommerce

N26 Integrates iDEAL Online Payment Standard

German online bank N26 enables the most popular online payment method in the Netherlands – iDEAL

N26 Integrates iDEAL Online Payment Standard

Fintech challenger bank N26 announced its new integration that allows its Dutch customers to pay with the iDEAL method directly from their N26 accounts at no additional cost.

Headquartered in the Netherlands, iDEAL is one of the best local e-commerce payment solutions that processes over 1.5 million transactions daily. iDEAL payments are made either using the mobile banking app or the online banking environment of the customer’s bank. Many businesses in the Netherlands support this payment option.

The service supports both e-commerce and P2P payments. One of the benefits of the solution is that account details are stored within the system and pre-filled automatically for all subsequent purchases. Besides, the transactions are processed instantly.

With the new integration, customers can now select iDEAL as their payment method, and then choose N26 as their bank. iDEAL will connect directly to one’s bank account at N26. The customer doesn’t need to fill in the account or card details, only to confirm the purchase in-app. The method works for both interpersonal and B2C transactions.

The bank warned, though, that the rollout of a new feature is happening gradually, so not all the customers will be able to enjoy the service immediately.

This year, N26 has significantly enhanced its proposition with a range of new services like the yield-bearing N26 Instant Savings account introduced in Spain with a 2.26% yield and expanded its crypto trading services to 5 new European markets.

Nina Bobro

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https://payspacemagazine.com/

Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.