Netherlands-based ING is the latest bank to extend person-to-person (P-to-P) payments services to bank customers using popular social media platforms.
Customers of ING and other Dutch banks can send money instantly to one another’s bank accounts through ING’s mobile banking app using social media channels Facebook, Twitter, LinkedIn and WhatsApp or sending the request directly via text or email, ING said in a Sept. 9 press release.
The service is based on iDeal, the Dutch domestic e-commerce payment system introduced in 2005, which is supported by the largest local banks and accounts for more than half of all e-commerce payments with the Netherlands.
ING customers begin the process by initiating a P-to-P payment within ING’s mobile app, which generates an iDeal link, which can be shared with any other local bank customer whose bank supports iDeal, ING said. Users also may attach the link to a text or email. Funds are available immediately in the recipient’s account, ING said in the release.
ING is promoting the service with a marketing campaign targeting consumers under age 35 who “have a tendency to try out new products and technology before it is adopted by the masses,” ING said in the release.
ABN Amro introduced a
