J.P. Morgan Payments is expanding its European e-commerce capabilities, enabling our merchant clients to offer their customers a varied choice of payment options to suit their needs with the integration of iDEAL, the leading payments network in the Netherlands, as a payment method at checkout to our global Commerce platform.
Our business in EMEA processes over $1 trillion of payments daily and supports payments solutions for more than 1,500 European clients[1]. With the addition of iDEAL, J.P. Morgan Payments will provide an integrated, streamlined experience to meet our clients’ evolving needs and a seamless, familiar and secure way for their Dutch customers to pay directly from their bank accounts when shopping online. Each year, over 1 billion transactions are processed on iDEAL, averaging 3.5 million transactions per day, with peak days exceeding 6 million[2].
“The integration of iDEAL into our global Commerce platform is further testament to our ongoing commitment to the European payments markets,” said Jeroen Kok, Head of J.P. Morgan Payments in the Netherlands. “With over 70 percent of online purchases done via iDEAL, it is a critical payment method for our regional merchant clients operating in the Netherlands and another step towards enabling our merchant clients to offer their customers the various payment options they want to suit their needs.”
The addition of iDEAL follows the firm’s move in 2024 to become a principal member of Cartes Bancaires CB in France, with the intention to offer merchant clients access to the French payment network, we also plan to make Klarna’s Buy Now, Pay Later (BNPL) payment options available to businesses that rely on J.P. Morgan Payments for payment processing. The firm has also expanded its strategic relationship with PayPal, with plans for PayPal to expand merchant acquiring to businesses across the UK and European markets by leveraging J.P. Morgan Payments’ industry-leading Commerce Platform.
Amos Kater, Chief Product Officer at iDEAL, said, “At iDEAL, we are committed to enabling seamless, secure, and familiar payment experiences for Dutch consumers. Working with J.P. Morgan Payments marks an important step in expanding our reach and ensuring that merchants across Europe can offer their customers the trusted payment method they rely on.”
Our Commerce platform offers merchant clients a single, global, end-to-end platform, which allows them to accept payments across multiple markets, and with built-in solutions designed to prevent fraud, reduce costs and boost authorization rates. With one single, agile application programming interface (API), which provides a seamless integration for all methods of payment, merchants can easily add multiple payment options without complex technical work, saving time and resources.