iDEAL is a Netherlands-based payment method that allows customers to complete transactions online using their bank credentials. All major Dutch banks are members of Currence, the scheme that operates iDEAL, making it the most popular online payment method in the Netherlands with a share of online transactions close to 55%.
iDEAL redirects customers to their online banking environment to authenticate a payment using a second factor of authentication and there is immediate notification about the success or failure of a payment. The exact customer experience depends on their bank.
1. Customer selects iDEAL at checkout
2. Customer is redirected to iDEAL and chooses bank or is redirected to bank straight away
3. Customer enters account credentials
4. Customer completes authorization process (with scanner or SMS)
5. Customer gets notification that payment is complete
(Optional) Customer returns back to business’s site for payment confirmation
The risk of fraud or unrecognized payments is low because the customer must authenticate the payment with their bank. As a result, you won’t have disputes that turn into chargebacks, with funds withdrawn from your Stripe account.
iDEAL payments can be refunded up to 180 days after the original payment.