The Netherlands payments market is estimated at USD 167.18 billion in the current year and is expected to reach USD 214.28 billion at the end of the forecast period by registering a CAGR of 5.09% during the forecast period.
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.
The Netherlands Payments Market is a highly fragmented market with several international and local players. To be ahead in the competition, the companies are focusing on developing innovative products, partnerships, collaborations, and mergers and acquisitions with other market leaders. Some of the key market players are Currence iDEAL BV, PayPal Holdings, Inc., Mastercard Inc., Visa Inc., American Express, etc.
In April 2023, The European Payments Initiative (EPI) was announced as acquiring iDEAL. It is aimed at the implementation of a harmonized payment solution in all EU countries. EPI's purchase of iDEAL is a validation of the value and reliability of its payment solution.
In 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.
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