Credit Transfer: Over 5M Users for Tikkie

The Dutch bank ABN Amro announces their credit transfer-based mobile payment solution, Tikkie, just achieved a new milestone, claiming over five million customers.

Goal: Tikkie is a mobile app enabling its users to send payment requests to their contacts via WhatsApp, and have the payments carried out through credit transfer based on iDEAL infrastructure.
Statistics:
- 55% of the users pay back Tikkies in less than 1 hour
- 88% within a day
- Friday is the most popular day to send Tikkie reminders
- Most Tikkies are sent to pay gifts, tickets or meals
Since launch mid-2016, Tikkie generated €2.2 billion in payment volume. Nearly 200,000 Tikkies reminders are paid each day. And up to 350 a minute at peak times according to ABN Amro.
The number of corporate customers increased two-fold, from 2,000 clients at the end of last year to 4,000 today.

An interbank solution for credit transfer-based payments. This solution is compatible with all banks in the country, making it easier for end-users to choose it.
Meeting corporate expectations, and intent to rely on seamless mobile payment solutions. This may also account for Tikkie’s success. It didn’t stay confined to the P2P segment, and soon aimed for P2M to increase adoption levels.
Tikkie is widespread in the Netherlands, by the concept is far less successful in other countries. In Germany, ABN Amro launched Tikkie through their digital subsidiary Moneyou. It didn’t, however, hit success and the service was recently terminated.

Aiming for a cashless society. Mobile banking services are particularly successful in the Netherlands. Many customers instinctively choose to pay contactless. And the Netherlands still is one step ahead, especially considering iDEAL’s high adoption rate.
Tikkie is gaining ground through diversification in the Netherlands. It stands out as a successful credit transfer-based payment solution. In November 2018, ABN Amro announced a major update, and the addition of several new features and improvements for both corporate and individual customers.
Just like ABN Amro, other institutions such as Rabobank, ING and ASN Bank, are also planning to add features for sending payment requests through their mobile app.
Other successful credit transfer solutions stand out in Northern Europe: Payconiq by Bancontact, for instance, already attracted 7 banks including KBC, ING, Rabobank, SNS and Belfius.

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