iDeal disappears – this is what’s going on

Payment service iDeal has become indispensable, but that is exactly what will happen: iDeal will disappear (and you need to know this).

iDeal disappears

When you pay for something online, you regularly do so with iDeal, a secure payment method that is linked to your bank account. That is why it is almost impossible to imagine that iDeal will no longer be available in a while.

The fact that iDeal is disappearing does not mean that you can no longer easily pay online from your bank account. A payment service will take its place and it is called Wero.

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iDeal disappears, Wero appears

It is no surprise that iDeal is disappearing, because a takeover by the European Payments Initiative (EPI) has been in the works for quite some time. iDeal will be the basis for a new European payment system and digital wallet, but under the name Wero.

EPI is a collaboration between various European banks and payment institutions from Europe. On the official website you can read more about that. ABN Amro, ING and Rabobank, among others, are participating and are also shareholders.

Wero won’t be released until 2025

The news that iDeal will disappear and Wero will appear was already known in April, but it still had to be approved. That has now happened, as has the takeover of the Luxembourg payment company Payconiq. With the acquisitions, EPI wants to introduce a uniform payment standard for the European market.

Wero will first be rolled out in Belgium, France and Germany. The Netherlands and the rest of Europe will follow. So nothing will change for the time being, because it will take until 2025 before iDeal disappears. Until then, you can still use the online payment service.

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