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PIN transactions rose by 11% last year to over 2.15 billion transactions

Amsterdam, 24 May - Electronic payment in the Netherlands has soared to record heights. Never before were so many transactions executed electronically. PIN transactions rose by 11% last year to over 2.15 billion transactions, and consumers used direct debits/mandates more than 1.3 billion times. The average Dutch consumer uses direct debits/mandates 80 times a year in order to ensure prompt payment. There was a substantial increase in online shopping. Together with Denmark, the United Kingdom and Sweden, the Netherlands occupies a leading position in Europe with regard to online purchases. Approximately 70% of the Dutch population shops online, some people more frequently than others. 10% of all purchases in the Netherlands are now made online, with iDEAL being the favourite payment method. iDEAL is also expanding its position outside regular e-commerce as the use of iDEAL payments for admission tickets and public transport rises steeply. More than 40,000 businesses and institutions in the Netherlands now accept iDEAL and consumers value this safe and user-friendly system.

Use of cash continues to fall as a result of the ‘Small amount? Use your PIN card!’ (Klein bedrag? pinnen mag!) campaign

The decrease in the share of cash payments in the total number of point-of-sale transactions (POS) is continuing; from 65% in 2006 to 53% in 2010. Nevertheless, there is still much ground to be gained with electronic payment methods because only 20% of retail purchases below €10 are paid electronically. However, a quarter of all PIN transactions now concern amounts less than €10. The consumer preference for PIN payments has increased significantly, from 60% in 2006 to 72% last year. The strong growth in electronic transactions is also expressed internationally. The countries neighbouring the Netherlands saw a slowdown in the growth of electronic payment between 2006 and 2009, while there was a growth acceleration in the Netherlands. This can be explained by the successful joint approach of retailers, banks and Currence to encourage PIN payments, particularly for small amounts. As a result, payments in the Netherland have never been as efficient as they are now.

Shift in criminal activity

Alertness among business owners, shop personnel and ATM/POS terminal suppliers together with the preventive measures of Currence and the banks resulted in the number of skimming attacks on ATMs and POS terminals falling by almost 67% to 310. Police investigations led to a large number of criminals being arrested for skimming. Losses due to skimming amounted to €19.7 million last year (-45%). As a consequence of advanced skimming techniques, this substantial decrease is not yet entirely in line with the reduced number of skimming attacks.

Currence CEO Piet Mallekoote has warned of a shift in criminal activity: “As the new electronic payment system makes it more difficult to skim in shops and at ATMs, we are seeing skimming practices shift towards unstaffed payment environments such as filling stations and Chipknip top-up machines.” The introduction of ‘the new electronic payment system’ with the EMV chip is proceeding according to plan. All bank cards now have the EMV chip and more than 93% of shops have EMV-compatible POS terminals. This is important, because the PIN brand will cease to exist from January 2012.

Chipknip stable

Although Chipknip can also be used on the new EMV terminals, broadband Internet and the reduction in PIN fees have a major impact on Chipknip usage. The payment process in shops is also much quicker if consumers do not have to choose between PIN and Chipknip payment. Therefore, many retailers have chosen to end their Chipknip contracts. Nevertheless, the use of Chipknip stabilised at slightly above (+0.7%) last year’s level.


Research by Currence shows that approximately 90% of all web shops offer iDEAL as a payment option. In the case of online payment, 56% of consumers prefer to pay via iDEAL. In addition to the high level of confidence consumers have in iDEAL, this is also due to the fact that web shops incur (nearly) no charges for iDEAL payments. This is in contrast to other payment methods, for which web shops often charge high amounts.

Consumer preference for means of payment when shopping online

Web retailers have urged Currence to rapidly introduce a mobile version of iDEAL. Leading market research agencies have indicated that m-commerce is set to grow tremendously in the coming years. Currence and the banks are currently researching how iDEAL can be used as a mobile payment method. The key focus of this research is security, which is of the utmost importance to iDEAL.
The European Commission and the ECB aspire to a single large European market for e-commerce. The lack of a safe and reliable payment method is an important obstacle in this respect. Therefore web retailer and consumer organisations are calling for the introduction of iDEAL in other countries as well.

For more information: B. Goulooze – Tel. +31 (0)20 305 19 85


Currence is owner of the uniform payment products PIN, Chipknip, Acceptgiro, Incasso/Machtiging and iDEAL and issues licences and certificates for these products to banks and service providers active in the payment system in the Netherlands. Currence’s mission is to facilitate market competition and to create transparency in the uniform payment system in the Netherlands while simultaneously maintaining and further developing the quality, security and efficiency of the uniform payment products.

This press release was distributed by ResponseSource Press Release Wire on behalf of Steijger Communications BV in the following categories: Personal Finance, Business & Finance, for more information visit