Key indicators

Population 17.1m
Population 15+ 14.7m
Online Population 16.4m
Currency EUR
GDP 909.5bn USD
GDP per Capita 52,248 USD

Payment methods share in the Netherlands, 2021

iDeal - 70%

VISA - 11%
SEPA  - 8%

V Pay - 4.5%
Paypal - 4%

Mastercard - 1% 


Online shopping 

In 2020, more than half of all e-commerce payment transactions were processed through iDEAL. This domestic bank transfer system allows online shoppers to open online accounts using their debit cards and is supported by all Dutch consumer banks. For this reason, Dutch consumers use bank transfers for e-commerce payments relatively more frequently than consumers from EMEA (Europe, Middle East, Africa). As a result, 92% of online stores in the Netherlands offered iDEAL as a payment method in 2017. There are far fewer Credit Card payments, PayPal and Klarna/Afterpay on offer this year.

Market overview

The Netherlands ranked fifth in Europe in terms of online retail usage in 2019. More than 80% of Dutch consumers aged 16 to 75 said they used e-commerce to order goods or services this year, compared with the European average of 60%. In 2020, the Dutch e-commerce industry was worth 26.6 billion euros, with online orders or purchases approaching 335 million euros.

The Dutch economy is largely based on the service sector, which accounts for nearly 75% of GDP production.

The most popular products to buy online in the Netherlands include groceries, IT equipment and fashion. On the other hand, fast-growing product areas include home textiles, consumer electronics and beauty products. While most Dutch online shoppers say they don't buy groceries online, they are increasingly open to it.

According to a 2018 survey, both consumers and industry experts believe that e-commerce will account for a larger share of total retail sales in 2023. Consumers expect the largest relative growth in groceries/near groceries, home electronics (e.g. washing machines), and telecommunications. Industry experts believe the biggest growth will be in telecommunications and consumer electronics such as cameras.


Online banking in the Netherlands

Both traditional banks and fintech companies in the Netherlands are actively promoting the use of online banking. Bunq is an example of Dutch fintech in online banking, one of the most well-funded online banks in Europe. This is a mobile startup with a banking license in the Netherlands. The company has developed an app that combines online banking with social activities such as those in apps like WhatsApp. The app is connected to the contact list on the phone. Once you've deposited money into Bunq's account from your bank account, you can use the app to send payment requests to your friends, pay them or create special chat groups.

Kindly contact your Account Manager if you would like to enter the Netherlands market.