Rapid Transfer now in Belgium and the Netherlands

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  • The Dutch purchased over €20 billion worth of products online in 2017 alone, based on a report by the Dutch Payments Association
  • The population of online shoppers in Belgium has kept on growing since 2016
  • Rapid Transfer provides convenience for individuals who do not have credit or debit cards or those who do not want to use those cards while shopping on the internet

Rapid Transfer is now available to Neteller and Skrill users in Belgium and the Netherlands, according to reports. Paysafe, Rapid Transfer’s mother company, says that the two countries are conducive to bank transfers as well as digital or app-based money transfer services.

This is supported by the 2017 report by the Dutch Payments Association which found that consumers purchased €22.5 billion worth of items online. According to the annual report, this represents 22% of all purchases made in the country. BeCommerce in Belgium, on the other hand, notes that online sales grew by 10% in the first two quarters of 2017. The population of online shoppers in Belgium has also grown at an estimated 2% since the year 2016. Said figures in both countries are still growing, experts say. Aside from making online payments a lot faster, international money transfer services are also employed by the platform as some sellers are in other parts of the world.

Rapid Transfer makes it possible for online shoppers to pay for their purchases using their bank details while those who use wallets such as Neteller and Skrill can add money to their accounts through the new Paysafe service. This is a welcome development for shoppers who do not use credit or debit cards when shopping online and those who want to ensure that their payments reach merchants in real time. The service also makes it easier for online sellers to receive funds as Rapid Transfer is used by more than 3,000 financial institutions in Europe.

Merchants benefit from the instant settlement available through Rapid Transfer payments, high conversion rates and access to a larger potential customer base. Merchants can accept bank transfer transactions from over 3,000 financial institutions across Europe using Rapid Transfer.

Skrill and Neteller CEO Lorenzo Pellegrino said: “Rapid Transfer is driven by customer needs and designed to help retailers meet consumer demand.” He adds that the service offers a faster “payments solution”. Rapid Transfer is particularly popular in places where card payments have been bypassed.

Get daily updates about the money transfer industry here.

Andrea Barnes
Andrea is Communications Manager at FXcompared. Prior to joining FXcompared, she worked as a communications consultant for companies seeking guidance with their social media, marketing and digital… Read more

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