For banks, there are three options for participating in the iDEAL payment process: as a consumer bank, as a merchant bank or as a Collecting Payment Service Provider (CPSP).
- As a consumer bank (issuer) you offer private customers the opportunity to pay using iDEAL.
- As a merchant bank (acquirer) you provide business customers with the opportunity to integrate iDEAL into their online checkout system.
- As a CPSP you provide your business customers with the opportunity to integrate iDEAL into their online checkout system. Just as the Acquiring role. Only in this role you have less competences, which makes this role less demanding.
These are three distinct roles within the iDEAL payment system. You must obtain a licence from Currence before being permitted to take on the role of issuer or acquirer. Before taking on the role as CPSP you must obtain a certificate from Currence.
As a bank, offering iDEAL provides the following advantages:
- it improves customer relations and enhances the competitiveness of the bank;
- it increases the use of online banking;
- it provides new revenue sources through the receipt of merchants’ and/or consumer charges;
- it minimises the risk of online fraud thanks to the high online security standard;
- it makes paper transfers obsolete.