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Net Element (NASDAQ:NETE) has announced that its PayOnline subsidiary has expanded its payment acceptance to include iDEAL, an e-commerce payment system in the Netherlands. As quoted in the press release: According to a recent e-commerce report by Thuiswinkel.org and the Ecommerce Foundation, the iDEAL payment system is the most a widely used method of online payments in …

Net Element (NASDAQ:NETE) has announced that its PayOnline subsidiary has expanded its payment acceptance to include iDEAL, an e-commerce payment system in the Netherlands.
As quoted in the press release:

According to a recent e-commerce report by Thuiswinkel.org and the Ecommerce Foundation, the iDEAL payment system is the most a widely used method of online payments in the Netherlands, accounting for 54% of all Dutch online payments and over 220 million transactions, as of 2015. Furthermore, Dutch online spending in 2016 grew over 23% to exceed 20 billion euros, and approximately 95% of the country’s age 15+ population are shopping online. Entering this attractive market allows PayOnline to reach a wide audience and has the potential for increasing revenues.
With payment acceptance through iDEAL now available to PayOnline merchants registered in the European Union, PayOnline also plans to connect to similar European payment systems, such as SOFORT, which unites Internet shops, cloud providers for e-commerce, and banks in Germany, Austria, Switzerland, the Netherlands, Belgium, Poland, Hungary, Italy, Spain, France, Great Britain, Slovakia and the Czech Republic. These arrangements facilitated by PayOnline allow for greater consumer flexibility, adding expanded banking options with safe and secure payment transactions online.

Click here to read the full press release.

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