Nearly 800 million P2P payments between Dutch consumers
Dutch consumers not only make payments at points of sale, but also to other consumers. This involves nearly 800 million transactions between family members, friends, colleagues and other acquaintances (459 million transactions), for school- and sports-related activities (98 million transactions) and for charities (244 million transactions), with a total value of EUR 20 billion in 2017. Of these payments, 72% are made in cash and 22% by electronic means such as online and mobile banking transfer, whether or not initiated using a mobile app such as Tikkie, iDEAL, ING, Rabo, Knab, Paypal or Bunq.
Besides cash, Dutch consumers increasingly often use their smartphones for making P2P payments
Paying by smartphone is the most popular option of all electronic payment means. Dutch consumers mainly use their smartphone for effecting mobile banking transfers. Compared to 2016, the number of P2P transfers to acquaintances by smartphone has tripled, to 96 million transactions. The number of P2P cash payments between acquaintances remained the same in 2016 and 2017, a little over 300 million transactions out of the total number of 459 million transactions between family members, friends, colleagues and other acquaintances.