Contactless Technology Gains Momentum in the Netherlands Cards & Payments Market, According to New Timetric Study Published at MarketPublishers.com

27 Apr 2016 • by Natalie Aster

LONDON – Contactless technology is progressively gathering speed across the Netherlands. As of 2015, there were 15 million contactless cards, accounting for 45.5% of all payments cards in the country. The number of contactless point-of-sale terminals at the domestic level amounted to 56,000, or 17.2% of total POS terminals, by 2014. Banks are gradually adopting contactless technology to offer convenience to consumers.

Larger banking institutions have come up with contactless mobile payment (m-payment) solutions. The most recent incentive is the delivery of contactless m-payment services by Rabobank, in association with KPN, the dominant provider of internet access services, in January 2016. In 2014, Vodafone, in partnership with Visa, launched contactless m-payment services (SmartPass), which enable customers to pay by cell phone at contactless POS terminals using a V Pay logo.

Consumers’ adoption of the alternative payment solution, iDEAL, is on the rise. In June 2015, iDEAL grabbed just over 55% of the online transactions carried out across the Netherlands, up from 54% in June 2014. It delivers payment services to merchants in over 50 markets worldwide that sell to local customers.

New study “The Cards and Payments Industry in the Netherlands: Emerging Trends and Opportunities to 2020” developed by Timetric provides a comprehensive review of the trends in the Dutch cards and payments industry. It uncovers historical and forecast value figures for each market operating in the domestic payment card industry; assesses a set of KPIs in the industry, by volume and value, over the review period; details the number of cards in issue; offers historical and forecast data on transactions by volume and value. The study investigates the market drivers, limelights the regulatory policies relating to the industry, identifies the marketing strategies employed to make various types of cards, reviews key alternative payment means, and explores consumers’ attitudes and purchasing preferences for cards. An insightful analysis of the e-commerce marketplace is included, and is the information on the types of online payment. The report canvasses the competitive landscape and profiles the key players. An insightful analysis of the merchant acquiring market and prepaid cards market is available, too.

Historical data are provided for 2011–2015 and forecasts are given up to 2020.

More reports by this publisher can be found at Timetric page. 

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