ING includes a payment validation service in itsme

Since 2017, ING Belgium has been offering the itsme service, a mobile digital identity application. In addition to managing the digital identity of its users, it will now also be able to validate remote payments. This diversification of uses illustrates the numerous reflections on the integration of payment and identity management, with the European wallet at the forefront.

FACTS

• itsme allows its users to identify themselves, connect, confirm or sign documents online in complete security. More than just documents, ING Belgium has now announced that the service will also allow users to validate payments.

• The itsme application allows you to identify yourself to your bank to confirm a payment without a card reader. While signing payments via itsme was already available on a computer, ING Belgium is making the service available via the service's mobile application.

• The solution is thus an alternative to 3D Secure and, above all, to the physical card reader...

CHALLENGES

• A harmonised solution: itsme was launched in May 2017 by a consortium of the country's four major banks: BNP Paribas Fortis, KBC, Belfius and ING. The three telecom operators (Proximus, Telenet and Orange) also joined the project, before being joined by the SFPI, Société fédérale de participations et d'investissement, and itsme shareholder since June 2021.

• Convergence of digital identity and payment: ING offers, instead of a card payment, an online payment either via the web on a PC or via app using the Itsme electronic signature, which uses Itsme strong authentication and signature for dynamic lining.

• Boosting usage: Between 25 and 35 million actions are carried out each month in Belgium with itsme. The addition of a payment functionality should further boost usage.

MARKET PERSPECTIVE

• ING Belgium's itsme digital identification application has seen a resurgence in interest among the Belgian population following the Covid-19 pandemic and its growth appears to be exponential, with itsme attracting nearly 3 million new users over the past year. It now has more than 6 million users in Belgium, representing more than half of the country's population and nearly 80% of the Belgian population over the age of 18. It also plans to open up internationally, starting with the Netherlands.

• However, the Belgian government, despite being a shareholder, is not unanimous in its support, particularly because of its overwhelming presence on the market and the costs deemed disproportionate.