iDeal acquired by European payment service iDeal is being acquired by the European Payments Initiative (EPI), a collaboration of European banks. Payconiq, the technology provider for iDeal, and Belgian payment service Bancontact are also being acquired. According to EPI, iDeal will serve as the foundation for a payment platform for the whole of Europe according to ecommercenews.eu
iDeal was founded in 2005 by ABN AMRO, ING, and Rabobank and has since become the most popular online payment method in the Netherlands. Over 90 percent of online shoppers choose iDeal when checking out.
iDeal and Payconiq merge into EPI iDeal B.V. is being acquired from Currence, an association of Dutch banks that also founded the payment service. The European Payments Initiative (EPI) is also acquiring Payconiq, which currently serves as the technology provider for iDeal and Bancontact, Belgium’s most popular payment method. The amount for which the companies were acquired is unknown.
Pan-European payment method EPI is a collaboration of major European banks, including Deutsche Bank and BNP Paribas. The initiative previously developed a digital wallet that allows users to transfer money between different accounts. With these acquisitions, EPI aims to develop a pan-European payment method.
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