From 2025, iDeal will become Wero following the acquisition by European banks. In the Netherlands, we can easily make payments with iDEAL.
🇪🇺 European Payments Initiative:
The acquisition of iDeal by the European Payments Initiative (EPI) is finalized. iDeal is set to become the foundation of a new European payment system.
💼 Acquisition Details:
The acquisition was announced in April, but awaited approval. It has now been granted.
🛍 Additional Acquisitions:
EPI has also acquired the Luxembourg payment company Payconiq International (PQI). The acquisition prices remain undisclosed.
🇪🇺 Unified Payment Standard:
EPI aims to establish a single payment standard for Europe. The plan starts in Belgium, France, and Germany, followed by the Netherlands.
🔍 New Technology:
For the new digital payment system, iDeal and Payconiq are foundational. Payconiq's technology is already used for iDeal.
📱 Alternative to Big Brands:
The new platform is a European alternative to Apple, Google, and others. EPI is also introducing a digital wallet, named Wero.
🔢 Future Features:
EPI intends to support various transactions. This includes subscriptions, installment payments, and pay-on-delivery.
🛒 More Features:
Services like 'buy now, pay later' and loyalty programs will be added later.
🏦 iDeal's History:
iDeal was owned by ING, ABN, and Rabo. These banks had placed iDeal under Currence.