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Payments newsletter: Betaaljournaal 29

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After the summer break, parliament and cabinet got back to work hard, with new policy and legislative plans. This also affects payments. In this Payment Journal, we update you on the proposed Dutch cash legislation, the European policy and legislative plans for a digital euro and the MOB annual report to Parliament.

Oudere vrouw houdt een blauw kaartje met het getal 29 naar voren in een groene buitenomgeving, waarbij de focus ligt op het cijfer en haar hand.

We also update you on the latest developments regarding EPI and WERO, (digital) Incassomachtigen, age discount at OVpay and the 1op6 awareness campaign for bank employees (on accessible services for people with disabilities).

Gijs Boudewijn, managing director

Bill for cash to Council of State

The draft bill on cash payments was submitted to the Council of State for its opinion on 18 July. It aims – in a nutshell – to ensure that enough cash machines are available throughout the country and that customers of Dutch banks can withdraw and deposit a certain amount of cash free of charge at those cash machines. The latter obligation only applies to banks with more than 50,000 Dutch account holders.

The latest version of the bill and the explanatory memorandum are on the central government’s legislative calendar. Before the bill was submitted, we responded to it in the public consultation in cooperation with our members. The legislator seems to want to provide scope for remuneration based on reasonable use (“fair use policy”) in a “general order in council (AMvB)”. This could, for example, limit free cash withdrawals and deposits to a reasonable limit on the number of transactions or the total amount withdrawn in a given period, and only at Geldmaat’s banking ATMs.

The State Council’s opinion is expected in autumn 2024. The possibly amended bill could be submitted to the House of Representatives for parliamentary consideration around the turn of the year. Possibly, the law could then take effect in early 2026.

Online retail spending Dutch consumer grew to €17.5 billion in first half year

In the first half of 2024, online retail spending by Dutch consumers reached €17.5 billion, 6% more than in the same period last year. In total, Dutch consumers spend almost 1/3rd of all their retail spending online. The growth in online spending is mainly due to increases in services. These increased by 13% in the first half of 2024 compared to the same period last year. This is mainly due to rising spending on insurance purchased online ( 27%), especially health and non-life insurance. In addition, the growth in tickets for Attractions & Events stands out. Online spending on tickets in France rose 20%, and the number of online purchases increased 58%, which is probably related to the Olympic Games.

The number of online purchases in the first six months actually decreases by 2% to 173 million. This drop is due to the decrease in the number of products bought online. This fell by 4%. By contrast, online spending on products late again showed a tentative increase ( 1%). The decrease in the number of online purchases is mainly caused by a decline in the Shoes & Personal Lifestyle and Food/Near Food categories, both of which fell by 11%.

This is according to the latest figures from the Home Shopping Market Monitor. Want to read more about the latest figures from the Home Shopping Market Monitor? Then click here.

Kick-off awareness campaign ‘1op6’ for bank employees

Roughly one in six Dutch people struggle to use government and business digital services independently. Keeping digital services accessible for these people requires understanding and awareness among employees of (online) service providers. Therefore, the four largest Dutch banks launched the awareness campaign ‘1op6’ among their own employees during the Week of Reading and Writing.

The 1op6 package for bank employees consists of educational videos, webinars, a ‘Toolkit Digital Accessibility & Inclusion’ and informative research reports. In an ‘Escape Caravan’ that will be set up at headquarters on 9 and 10 October, they will experience the obstacles faced by low-literate people.

EU plans for digital euro and views Payments Association

The ECB and the European Commission are working side by side to develop the digital euro. The Commission is preparing legislation to create a legal framework for the digital euro. The ECB is conducting a study on technical and policy aspects.

The Payments Association aims to promote the Dutch payments ecosystem and approaches the digital euro from this objective. Together with the Dutch Banking Association and its members, we advocate that EU plans for the digital euro pay close attention to the social costs and benefits. The efforts required to introduce and use the digital euro should be proportional to the potential added value of the digital euro.

(Digital) Direct Debit Mandate now under the wings of Payments Association

Since mid-August 2024, the agreement system for (digital) Direct Debit Mandate (DIM for short) has fallen entirely under the wings of Betaalvereniging Nederland. To this end, the Betaalvereniging acquired all shares of Incassomachtigen BV from Currence, the previous brand and product owner of DIM.

Age discount on travelling with debit card in bus, tram and metro

Public transport passengers can now get a 34% age discount when travelling with a debit or credit card in bus, tram and metro. This is possible for children up to 12 years of age and for elderly people from 65 years of age. To get this age discount, travellers must first register a payment card in the OVpay mobile app.

iDEAL owner EPI launches WERO payment app in Germany

EPI (European Payments Initiative) is launching in Germany its WERO mobile payment app for reciprocal payments between users. German WERO users can now pay directly to each other’s payment accounts via this so-called digital ‘wallet’ (digital wallet on a smartphone).

Annual report Social Consultation on Payment Transactions to Lower House

Finance Minister Weyenberg presented the 2023 annual report of the National Forum on the Payment System (MOB) to the Lower House on 24 June. The MOB annual report reports on social developments in the Dutch collective payment system in 2023.

About payments

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In the first half of 2024, 20.3 million purchases were made abroad, an increase of 6%.

Of these purchases, 68% took place through Chinese online shops.

More figures in our press release on online purchases

Association news

On Thursday 7 November, the annual conference of Payments Association Netherlands will take place, with the theme “The European Perspective.” During this event, we will dive deeper into the question: “Will we succeed in making European payments great again?” We have invited key players from the European payments landscape to share their insights. It promises to be an inspiring programme. Make a note of the date in your diary! In a few weeks, members and relations will receive their personal invitation with the full programme and the possibility to register.

Agenda

Member Bulletin

In addition to this Payments Journal, the Payments Association also publishes Member Bulletins. In these, we inform members about practical matters of interest. The bulletins usually appear a few times a month and cover a specific topic. Are you a member but not yet receiving these bulletins? You can get yourself placed on the mailing list at secretariaat@betaalvereniging.nl.

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Also curious about the latest developments in payments? Stay informed via Betaaljournaal. You can register here.

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