in3 partners with iDEAL for new payment method: iDEAL in3
Payment solution iDEAL and the Eindhoven FinTech company in3, in collaboration with payment service provider Buckaroo, are starting a pilot in which a number of web shops offer payment in installments via iDEAL. The aim is to test how Dutch consumers and sellers receive and use this new payment option, iDEAL in3.
Since its launch in 2005, iDEAL has developed into the Dutch payment standard with a reach of almost 100% of Dutch consumers. More than 1 billion transactions are yearly carried out with iDEAL.
With in3, consumers can pay for online purchases in three instalments. The consumer pays a third of the price immediately upon purchase and the remaining two parts within 30 and 60 days. The consumer does not pay any costs for using this payment method. The consumer also doesn’t pay any interest on the outstanding amount. It is an opportunity for online stores to increase conversion. They pay a fee per purchase in return.
In collaboration with Currence, the company behind iDEAL, a pilot is is started to see how consumers and sellers use and experience pay in three instalments with iDEAL. As of today, during the pilot, you can pay with iDEAL in3 at a few online stores of payment service provider Buckaroo.
Hans Langenhuizen, CEO of in3, is happy with the collaboration. “This pilot is an important step to make our socially responsible payment method in3 known and loved by a larger audience. We want to monitor how the market, both buyer and seller, receives the product. If this proves to be a success, we will quickly connect more online stores.”