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The Netherlands

The Netherlands Payment Market Overview

Looking ahead, online shopping market growth should prove resilient, with a compound annual growth rate of 11 percent between 2018 and 2021, maintaining the country’s position as one of the most dynamic markets. This buoyancy is driven by high rates of internet (95.9 percent) and bank account penetration (99.6 percent), both of which are well above the European averages. Indeed, the Netherlands was ranked as the leading e-commerce market in the world by a recent UN survey, due to its high proportion of online shoppers and large number of pure-play online stores.

Fast delivery is a key component of the Dutch e-commerce culture, and quick fulfilment of orders is essential to win over e-commerce shoppers there. Bol.com, for instance, reported an increase in sales of 25 percent for sellers on its site when they provided next-day delivery. Over a third of shoppers expect all deliveries to arrive within 48 hours.

Payment Methods in the Netherlands

Key Market Indicators in the Netherlands

€25,800,000,000
Online shopping market value
60%
Pay with bank transfers
99.6%
Bank account penetration
€1,112
Avg annual online spend

Banks in the Netherlands

ING Bank NV
Cooperative Rabobank UA
ABN AMRO Bank NV
De Volksbank NV
NIBC Bank NV
Achmea Bank NV
F. van Lanschot Bankiers NV
Triodos Bank NV
Delta Lloyd Bank NV
KAS Bank NV

Mobile Carriers in the Netherlands

KPN
Vodafone
Telfort
T-Mobile
Tele2

Integrate Dutch Payment Methods

The payments landscape in the Netherlands is notable for the relative absence of cards. The frugal Dutch have a culture that does not embrace debt, and many shops in the Netherlands still do not accept credit card payments. The online payments space is dominated by bank transfers, which are used to complete 60 percent of all e-commerce transactions. This has in part been driven by the online ubiquity of the domestic brand iDEAL. Developed and launched by Dutch banks in 2005, this online bank transfer payment system dominates, with an estimated 56 percent market share.

The dominance of bank transfers in the Netherlands is expected to be threatened slightly by the rise of both cards and digital wallets. By 2021, bank transfers are expected to account for 58 percent of the online payment market, digital wallets are predicted to grow to take eight percent, and cards a 20 percent share of the market.

Country Statistics
Region Europe
Population 17.28 million
E-commerce market size €25.8 billion
Local currency EUR
Key Metrics
Internet penetration rate 92.1%
Internet cost €35/month
Mobile penetration rate 93%
Cellular technology standard 3G, 4G
Dual sim usage 10.3%
Popular mobile OS iOS
Other Information
Big Mac Index 4.67
Average annual income €36.500
Largest Cities in the Netherlands by Population
Amsterdam 872,680
Rotterdam 650,711
The Hague 544,766
Utrecht 357,179
Eindhoven 234,235
Groningen 232,826
Tilburg 219,632

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