For e-money institutions, there are three options for participating in the iDEAL payment process: as a merchant bank, as a Collecting Payment Service Provider (CPSP) or as a merchant (e-wallet provider).
- 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.
- As a merchant you provide private customers the opportunity to top up their e-wallet.
Note: For the role of acquirer your institution should have access to the Clearing and settlement, or you need a partner with access to the clearing and settlement.
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 acquirer. Before taking on the role as CPSP you must obtain a certificate from Currence. To receive iDEAL payments you must obtain an iDEAL contract with an acquirer of CPSP.
As an e-money institution, offering iDEAL provides the following advantages:
- it improves customer relations and enhances the competitiveness of the payment institution;
- it generates revenue from merchants’ fees, the level of which is set by the individual payment institution;
- it is a fully-automated and direct process, with no reversals or charge-backs;
- it is easy to integrate in the online retailer’s checkout system;
- it minimises the risk of online fraud thanks to the high online security standard.