ABN Amro Launches ID & Pay Function

In order to speed up the onboarding process for consumer-to-business transactions, ABN Amro introduced ID & Pay, a payment tool that enables customers to securely keep their ID and also make payments in a single app. The "bicycle as a service" company Swapfiets will be the program's first trial customer and will employ the procedure for membership enrolment.

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Edwin van Bommel, chief strategy & innovation officer at ABN Amro commented, "ID & pay originated from a need we identified among our business clients. A need to offer their customers a much simpler onboarding and payment process. This app beats every other onboarding process in the market as an easy-to-use way for customers to provide ID and pay for products and services. It's unique in Europe."

He further said that the capability functions similarly to combining PayPal and Google login in a safe environment provided by ABN Amro. As a result, the user's privacy is also secured because all of their personal information and payments are displayed in one handy app.