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Netherlands Mobile Payments Market Size (2024 - 2029)

The Netherlands mobile payments market is experiencing significant growth, driven by the rapid adoption of mobile payment applications and the increasing penetration of the internet and online retailing. The digital transformation of the financial sector and the introduction of innovative mobile payment solutions have further propelled the market. Despite the expansion, concerns over data breaches and security issues pose challenges to market growth. The COVID-19 pandemic accelerated the shift towards digital transactions, with consumers increasingly relying on mobile payments through various banking and financial platforms.

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Market Size of Netherlands Mobile Payments Industry

Netherlands Mobile Payments Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 13.44 %
Market Concentration Low

Major Players

Netherlands Mobile Payments Market Key Players

*Disclaimer: Major Players sorted in no particular order

Netherlands Mobile Payments Market Analysis

The Netherlands mobile payments market is expected to grow at a CAGR of 13.44% over the forecast period (2022 - 2027). The stores and services are rapidly adopting mobile payment applications, such as Tikkie, and PayPal, to accept and transfer payments. With increasing internet penetration and rapid growth in online retailing, this trend is expected to continue over the forecast period.

  • Mobile phones, particularly smartphones, have grown to be an integral component of every person due to the rapid expansion of the global economy. Additionally, most people in the world now depend on the internet for daily activities. Due to This, the adoption of smartphones and internet users rose worldwide, resulting in a huge boost in the mobile payment sector.
  • Mobile payment transactions in Netherland have increased, primarily due to the digital transformation of financial sectors and the introduction of new mobile payment applications. For instance, iDeal was introduced in 2005 and has taken over the e-commerce segment. Payments are made using the mobile banking app, or the online banking iDEAL is a direct online transfer from the user's bank account to the receiver's bank account.
  • Many market giants use reward programs to keep existing customers and attract new ones to their mobile payment systems. For example, many service providers sell scratch cards for use with their applications that include a particular amount of money. The consumer's propensity to use mobile payment apps when using such reward techniques increases the market for mobile payments.
  • The market for mobile payments is growing but is being constrained by rising data breaches and security problems. Additionally, many customers are hesitant to accept the new technology due to worries about security and unlawful use of personal data.
  • Customers in the Netherlands widely started using digital transactions during the COVID-19 pandemic. Customers have access to digital banking systems through several banks and financial institutions. As a result, during the COVID-19 pandemic, mobile payments increased globally.

Netherlands Mobile Payments Industry Segmentation

The Netherlands Mobile Payments Market is Segmented by Payment type (Proximity and Remote). Mobile payments automate payment systems by offering an alternative method of payment using a portable electronic device like a smartphone. Mobile payments can also be used for fund transfers digitally rather than paying with a cheque or cash. Mobile payment technology provides diverse applications in end-user industries like movie tickets, food, and retail stores.

The Netherlands Mobile Payments Market is Segmented by Payment type (Proximity and Remote).

By Type (Market share in percentage based on relative adoption)
Proximity
Remote
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Netherlands Mobile Payments Market Size Summary

The Netherlands mobile payments market is experiencing significant growth, driven by the rapid adoption of mobile payment applications like Tikkie and PayPal. This growth is fueled by increasing internet penetration and the expansion of online retailing, making mobile phones, especially smartphones, an integral part of daily life. The digital transformation of financial sectors and the introduction of new mobile payment applications have further boosted mobile payment transactions. Despite the growth, the market faces challenges such as rising data breaches and security concerns, which have made some consumers hesitant to embrace new technologies. The COVID-19 pandemic has accelerated the shift towards digital transactions, with many consumers turning to mobile payments for convenience and safety.

The market is characterized by a consolidated landscape dominated by major players like iDEAL, Afterpay, Klarna, Apple Inc., and PayPal Inc. These companies are actively investing in partnerships, acquisitions, and product development to enhance their market share. The regulatory environment in the Netherlands is supportive, with the Dutch Payments Association and the Dutch National Bank overseeing the payment systems' availability and security. The proliferation of 4G and 5G technologies is expected to further drive the market's expansion, as they enhance mobile access and reduce reliance on WiFi. The Netherlands is becoming a favorable destination for new entrants in the mobile banking sector, with companies like N26 introducing advanced mobile banking features.

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Netherlands Mobile Payments Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

      1. 1.1.1 Increasing internet penetration and growing E-commerce & M-commerce market

      2. 1.1.2 Increasing number of loyalty benefits in mobile environment

    2. 1.2 Market Challenges

      1. 1.2.1 Security issues associated with mobile payments

    3. 1.3 Key Regulations and Standards in the Netherlands Mobile Payments Industry

    4. 1.4 Analysis of Business Models in the Industry

    5. 1.5 Analysis on Enabling Technologies (Coverage to include NFC, QR, etc.)

    6. 1.6 Commentary on the growth of Mobile Commerce and its influence on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type (Market share in percentage based on relative adoption)

      1. 2.1.1 Proximity

      2. 2.1.2 Remote

Netherlands Mobile Payments Market Size FAQs

The Netherlands Mobile Payments Market is projected to register a CAGR of 13.44% during the forecast period (2024-2029)

Paypal Inc.​, iDEAL BV, Tikkie (ABN AMRO), klarna and AfterPay (Arvato Finance B.V.) are the major companies operating in the Netherlands Mobile Payments Market.

Netherlands Mobile Payments Report Snapshots

Netherlands Mobile Payments Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)