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Country report: The payments industry in the Netherlands: Status and future developments
Journal of Payments Strategy & Systems,
15
(3),
332-348
(2021)
Abstract
Transaction fees are not simply a core source of revenue for payment service providers, but also impact significantly on the economy more broadly. This paper examines the situation in the Netherlands, where the banks in this relatively small country have historically cooperated to keep transaction costs low. With a focus on retail payments rather than the settlement of payment transactions or the payments leg of securities transactions, this paper explains the principles underlying this model of cooperation, and explores how cooperation within the payments industry has impacted the sector and country.
Keywords: cooperation model; SEPA schemes; card schemes; e-payments; iDEAL; cash services; digital identity; iDIN; AML; transaction monitoring
The full article is available to subscribers to the journal.
Author's Biography
Piet M. Mallekoote is CEO at the Dutch Payments Association, whose members are payment banks and payments institutions in the Netherlands. Piet is also CEO at the iDEAL payment scheme. He chairs several steering and stakeholder groups on innovative payments and is involved in many national and international meetings on payments. Piet has a degree in economics from the University of Amsterdam.
Gerard Hartsink has been appointed by the Financial Stability Board in June 2014 as the first chairman of the GLEIF Board of Directors. He serves as member of the World Trade Board that has as objective to enable global trade with support of digital technologies. He is active in organisations promoting e-commerce (member of the Digital Economy Commission of the International Chamber of Commerce [ICC]) and e-governance (member of the Forum Standaardisatie of the Dutch government) and is Head of the Dutch delegation of ISO TC 307 Blockchain and DLT. He has broad experience in the payments, securities and forex industry. He has served as Chairman of CLS Bank International, the European Payments Council and the RMG of ISO 20022 and as Board member of SWIFT, LCH.Clearnet Group, Euroclear Netherlands and the Euro Banking Association (EBA). As former Senior Executive Vice President of ABN AMRO, he has over 30 years’ experience in sales, product development, regulatory affairs, information management and operations.
