Netherland Payments Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Netherland Payments Market is Segmented by Mode of Payment (Point of Sale (Card Payments, Digital Wallet, Cash), Online Sale (Card Payments, Digital Wallet)), and by End-user Industries (Retail, Entertainment, Healthcare, Hospitality).

Netherland Payments Market Size

Netherland Payments Market
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Study Period 2018 - 2028
Base Year For Estimation 2022
Forecast Data Period 2023 - 2028
Historical Data Period 2018 - 2021
CAGR 12.47 %
Market Concentration Medium

Major Players


*Disclaimer: Major Players sorted in no particular order


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Netherland Payments Market Analysis

The Netherlands payments market is expected to grow at a CAGR of 12.47% over the forecast period (2022 - 2027). The Dutch payment system has been influenced by technological innovation and evolving payment methods, resulting in a significant decrease in the use of paper-based instruments.

  • TOP, the RTGS system owned and operated by the Netherlands Bank, handles large-value payments. Although the TOP system is designed to handle large-value interbank payments, there are no upper or lower value limits for payments in theory. This is also true for cross-border payments made through TARGET, to which TOP is linked.
  • Interpay is developing electronic billing, a new method of electronically processing accept giros without the use of paper forms. Instead of mailing a paper invoice with an accept giro form, suppliers may send it electronically to Interpay, which would forward it to a debtor's bank's website. Debtors can receive a message authorizing them to where they can really find it, so they would electronically sign and deliver their order to transfer the due amount.
  • Mobile payments are becoming increasingly popular in the Netherlands, where they are perceived as a safe and efficient payment method. In the Netherlands, this is increasingly possible through Apple Pay, Google Pay, and mobile banking apps. The Dutch also benefit from the iDEAL app, which is the dominant player in payments in the Netherlands, accounting for more than 900 million online transactions per year in 2020, 30% more than the previous year (iDEAL, 2020). Other players include Payconiq and PayPal, though Payconiq recently announced that it would cease operations in the Netherlands for unspecified reasons.
  • COVID-19 has accelerated a previously established trend in the Netherlands. According to Eurostat, 91% of Dutch people use online banking apps and features. Cash payments have been strongly discouraged in stores, restaurants, and other public places during the pandemic, resulting in an increase in the use of digital payments. During the pandemic, the Netherlands increased the contactless payment limit from EUR 25 to EUR 50. Further, the cumulative limit for contactless transactions without PIN has been increased from EUR 50 to EUR 100.
  • During the COVID-19 pandemic, most transactions in the Netherlands are made using digital payment methods such as cards or mobile. Consumers are abandoning cash due to the ease of payment and integration with wearable technology and smartphones. The Netherlands has remained a leader in the transition to a cashless society due to its use of wearables as a payment method and high internet banking penetration rates well above the European average.

Netherland Payments Industry Segmentation

Payments are increasingly becoming cashless, and the industry's role in fostering inclusion has become a top priority. Payments contribute to developing digital economies and drive innovation while serving as a stable backbone worldwide.

The payments market is divided into two segments: POS and e-commerce. E-commerce payments include online purchases of goods and services, such as purchases made on e-commerce websites and online travel and hospitality bookings. In terms of POS, all transactions that take place at a physical point of sale are included in the market's scope.

By Mode of Payment
Point of Sale
Card Payments (includes Debit Cards, Credit Cards, Bank Financing Prepaid Cards)
Digital Wallet (includes Mobile Wallets)
Online Sale
Card Payments (includes Debit Cards, Credit Cards, Bank Financing Prepaid Cards)
Digital Wallet (includes Mobile Wallets)
Others (includes Cash on Delivery, Bank Transfer, and Buy Now, Pay Later)
By End-user Industry
Other End-user Industries

Report scope can be customized per your requirements. Click here.

Netherland Payments Market Trends

This section covers the major market trends shaping the Netherland Payments Market according to our research experts:

Rising users of Digital Payments in Online Sale

  • The payment market in the Netherlands is facilitating the transition to a cashless society. Mobile payment innovations, contactless payments, and the closure of ATMs are all signs of a shift away from a cash-based economy. The global pandemic has accelerated this further, where contactless payments are perceived as faster and cleaner. The Netherlands is a pioneer in the adoption of a cashless payment environment.
  • Bank transfers dominate the Dutch e-commerce payments market due to iDEAL, the Dutch bank transfer system used for 65% of all e-commerce payments. Payments are made through the iDEAL mobile app or the customer's online banking website. As all Dutch central banks support the method, it provides consumers with the convenience and speed of delivering pre-filled payment information.
  • By 2020, iDEAL handled more than half of all e-commerce payment transactions. This domestic bank transfer system, which all Dutch consumer banks support, allows online shoppers to use their debit cards for online accounts. As a result, Dutch consumers used bank transfers for e-commerce payments at a higher rate than EMEA consumers (Europe, the Middle East, Africa).
  • The Netherlands is heavily reliant on credit transfers, also known as giro payments. Cheques are rarely used for remote or point-of-sale payments anymore. The vast majority of Dutch households and businesses have multiple payment accounts. Further, the gradual decline in the number of bank branches and ATMs and the rapid increase in the number of payment terminals at points of sale represents a change from cash to electronic payments.
Netherlands Payments Market Share of Individuals using Mobile Banking, by Age Group, 2021

Increasing Internet Penetration in the Netherlands

  • Connectivity and internet use have increased in the Netherlands, increasing the availability of online goods, services, and intermediaries to support this growth. This also demonstrates that the Dutch digital economy assists citizens in becoming connected and using the internet to consume online services and initiate online transactions.
  • The Netherlands’s internet penetration rate stood at 96.0 percent of the total population in 2022. Ookla’s data reveals that the median mobile internet connection speed in the Netherlands increased by 12.08 Mbps (+14.6 percent) in the twelve months to the start of 2022. Meanwhile, Ookla’s data shows that fixed internet connection speeds in the Netherlands increased by 15.38 Mbps (+18.9 percent) during the same period.
  • However, issues relating to COVID-19 continue to impact research into internet adoption, so actual internet user figures may be higher than these published numbers suggest.
Netherland Payments Market Individuals using the Internet (% of population)

Netherland Payments Industry Overview

Bank transfer is the most popular payment method in the Netherlands, accounting for 58% of all payments, followed by digital wallets (8%) and cards (20%). The iDEAL is used in more than half of all e-commerce payment transactions. This domestic bank transfer system, which all Dutch consumer banks support, allows online shoppers to use their debit cards for online accounts. Credit cards, PayPal, and Klarna/Afterpay were all offered at significantly lower rates than iDEAL.

  • February 2022- Apple announced plans to add Tap to Pay to the iPhone. The new feature will allow businesses to accept Apple Pay and other contactless payment methods via their mobile device via the iPhone and iOS app.
  • September 2021- PayPal announced that the PayPal Business Debit Mastercard will be extended into the Netherlands. The debit card allows small businesses to access available PayPal credit quickly and may provide them with an unlimited 0.1 percent cash back on eligible spending in the Netherlands.

Netherland Payments Market Leaders

  1. Currence iDEAL BV

  2. Apple LLC (Apple Pay)

  3. PayPal Holdings, Inc.

  4. Mastercard Inc.

  5. Visa Inc.

  6. American Express Company

*Disclaimer: Major Players sorted in no particular order

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Netherland Payments Market News

  • May 2022 - Klarna, a leading global retail bank, payments provider, and shopping service provider, announced the launch of its Virtual Shopping offering, which brings the best of in-store shopping to the online experience. Klarna's Virtual Shopping lets customers browse and buy online with confidence by connecting them directly with in-store experts via live chats and video calls to receive product advice and inspiration.
  • May 2022 - DECTA, a payment processor based in the United Kingdom, has partnered with instant payments provider Zimpler to enable A2A payments and payouts for European businesses. The DECTA Acquiring Services now include the Zimpler payment solution as a standard payment method. The functionality is currently available in Finland, Sweden, the Netherlands, Germany, Estonia, Latvia, and Lithuania, with plans to expand to Peru, Denmark, Norway, the United Kingdom, and Brazil in the near future.
  • May 2022 - BigCommerce, an e-commerce software company, has named Mollie as its Preferred Technology Partner. Mollie, a Dutch fintech, supports the majority of popular payment methods in Europe. The announcement comes on the heels of BigCommerce's recent expansion into the Netherlands, France, and Germany. Mollie was already available on BigCommerce's platform, but the payment service provider is now a Preferred Technology Partner. Customers on the BigCommerce platform can add Mollie with a single click in the payment settings. Mollie gives users access to popular European payment methods such as iDEAL, Bancontact, Mastercard, Visa, and American Express.
  • March 2022- Visa has announced the acquisition of tink, an open banking platform that allows financial institutions and fintechs to build services and financial products and move money. The combination of Tink and Visa is expected to provide clients with better financial services, financial data, and money management.

Netherland Payments Market Report - Table of Contents


    1. 1.1 Study Assumptions and Market Definitions

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Industry Stakeholder Analysis

    3. 4.3 Industry Attractiveness-Porter's Five Force Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

    4. 4.4 Evolution of the payments landscape in the country

    5. 4.5 Key market trends pertaining to the growth of cashless transaction in the country

    6. 4.6 Impact of COVID-19 on the payments market in the country


    1. 5.1 Market Drivers

      1. 5.1.1 Adoption of digital payments

      2. 5.1.2 Increasing need to eliminate physical money transactions in order to reduce money-related fraud

      3. 5.1.3 Increased use of Smartphones with High-Speed Network Connectivity and Different Digital Payment Platforms

    2. 5.2 Market Challenges

      1. 5.2.1 E-payment platforms, like other electronic systems, are easily hackable

    3. 5.3 Market Opportunities

      1. 5.3.1 Rising Cashless Payment Promotional Events and Activities

      2. 5.3.2 E-commerce is becoming more popular in developing countries

    4. 5.4 Key Regulations and Standards in the Digital Payments Industry

    5. 5.5 Analysis of major case studies and use-cases

    6. 5.6 Analysis of key demographic trends and patterns related to payments industry in the country Netherland (Coverage to include Population, Internet Penetration, Banking Penetration/Unbanking Population, Age & Income etc.)

    7. 5.7 Analysis of the increasing emphasis on customer satisfaction and convergence of global trends in the country Netherland

    8. 5.8 Analysis of cash displacement and rise of contactless payment modes in the country Netherland

  6. 6. Market Segmentation

    1. 6.1 By Mode of Payment

      1. 6.1.1 Point of Sale

        1. Card Payments (includes Debit Cards, Credit Cards, Bank Financing Prepaid Cards)

        2. Digital Wallet (includes Mobile Wallets)

        3. Cash

        4. Others

      2. 6.1.2 Online Sale

        1. Card Payments (includes Debit Cards, Credit Cards, Bank Financing Prepaid Cards)

        2. Digital Wallet (includes Mobile Wallets)

        3. Others (includes Cash on Delivery, Bank Transfer, and Buy Now, Pay Later)

    2. 6.2 By End-user Industry

      1. 6.2.1 Retail

      2. 6.2.2 Entertainment

      3. 6.2.3 Healthcare

      4. 6.2.4 Hospitality

      5. 6.2.5 Other End-user Industries

  7. 7. Competitive Landscape

    1. 7.1 Company Profiles

      1. 7.1.1 Currence iDEAL BV

      2. 7.1.2 American Express Company

      3. 7.1.3 Visa Inc.

      4. 7.1.4 Mastercard Inc.

      5. 7.1.5 PayPal Holdings Inc.

      6. 7.1.6 Apple Inc. (Apple Pay)

      7. 7.1.7 Google LLC (Google Pay)

      8. 7.1.8 ABN AMRO Bank NV

      9. 7.1.9 De Volksbank

      10. 7.1.10 Adyen

    2. *List Not Exhaustive
  8. 8. Investment Analysis

  9. 9. Future Outlook of the Market

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Netherland Payments Market Research FAQs

The Netherland Payments Market is projected to register a CAGR of 12.47% during the forecast period (2023-2028).

Currence iDEAL BV, Apple LLC (Apple Pay), PayPal Holdings, Inc., Mastercard Inc., Visa Inc. and American Express Company are the major companies operating in the Netherland Payments Market.

Netherland Payments Industry Report

Statistics for the 2023 Netherland Payments market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Netherland Payments analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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