Sunday, August 28, 2005

Not too many questions on upcoming Ideal-product

Emerce notes that there are not too many questions for payment service providers on the soon to be introduced internet-payment product: Ideal. Meanwhile discussions on the web focus on the fees to be applied.

Some indications for a large bank...
Entry fee of 100 euro and monthly fee of 40 euro.
Transaction fees of 0,55-0,75 euro.

Meanwhile, wat the public will most likely fail to understand or appreciate is that there will not be uniform banking fees for this product. The fees may vary per bank, per merchant sector etc. This is a reflection of the 'new world' that Dutch banks have entered. In this new world cooperation is no longer the default value; nor are price-agreements (until the mid-80s a commonality for banks).

I'm curious how much time it will cost before the public and the regulatory stakeholders will begin to understand that in this new world, it is no longer useful to ask stuff from all banks collectively...