Revenue Optimization 2: The importance of payment risk management in the culturally diverse and high-growth APAC
Due to its considerable market share, it is a must-have payment method for merchants in the market.
In the travel industry, iDEAL accounts for about 40% of transaction volume in the Netherlands - less than the overall rate, but significant enough that it can make a dramatic difference to customer acquisition and conversion at the checkout for travel operators in the market.
Recently, Ryanair partnered with Adyen to give its customers the option to use iDEAL to purchase flight tickets online in the Netherlands.
By providing iDEAL as a payment option, the airline is improving the payment experience and giving customers in the Netherlands the choice to pay with the method with which they feel most comfortable.
Within a few weeks of launching iDEAL, early results revealed that a majority of Ryanair’s transactions in the Netherlands were already being completed with iDEAL, highlighting the importance of offering this payment method in the Dutch market.
For businesses expanding globally, the value of offering local payment methods is enormous. In some markets, (including the Netherlands, but also major global markets such as China), local payment methods account for over 50% of online transaction volume.
Adyen supports all popular payment methods worldwide, including a full service iDEAL solution.
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