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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 institutions that have subscribed 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 is Chairman of the Global Legal Entity Identifier Foundation. He is also a member of the World Trade Board, the International Chamber of Commerce Digital Economy Commission and the Dutch government’s Forum Standaardisatie. His previous roles include Senior Executive Vice President of ABN AMRO Bank, Chairman of CLS Bank International and the European Payments Council and Board Member of SWIFT, LCH.Clearnet Group, Euroclear Netherlands and the Euro Banking Association.
