By Dr. Rashedul Hasan (Assistant Professor in Accounting)
Across much of the world, mobile payments are revolutionizing how people manage money. In China, for instance, mobile wallets like Alipay and WeChat Pay handle transactions worth more than 16% of the country’s GDP. Yet in the Netherlands—one of Europe’s most digitally advanced countries—many consumers still prefer old-fashioned payment cards.
Why are the Dutch lagging behind?
That’s the question we set out to answer in a recent study. Despite the convenience, security, and speed that mobile payments offer, adoption in the Netherlands remains surprisingly low. It’s not due to fear, complexity, or a lack of infrastructure. In fact, most of our Dutch respondents described mobile payments as safe and easy to use. So, what’s holding them back?
The simple answer: there’s just not enough incentive.
Unlike markets where mobile payments are promoted with discounts, loyalty rewards, or cashbacks, Dutch fintech providers tend not to offer any extra value. Most users don’t expect benefits—and none are being given. When there’s no clear advantage to switching from debit cards or online banking apps, many people simply don’t bother.
Our research shows that perceived usefulness and trust are key to driving fintech adoption. People are willing to try new payment tools—but only if they see a reason to. Unfortunately, in the Dutch market, that reason is still missing.
This presents a clear opportunity. If mobile payment providers in the Netherlands want to grow, they need to go beyond the basics. That could mean offering financial perks, integrating with public transport or retail services, or even gamifying everyday transactions. Just being “convenient” isn’t enough anymore.
There’s also a role for policymakers. With fintech comes risk—fraud, data theft, and digital exclusion. Stronger protections like biometric security, clearer regulation, and consumer education could go a long way in building public trust. Regulation shouldn’t just protect people—it should also empower them to use new tools with confidence.
The Netherlands has all the right conditions for fintech to thrive. What’s needed now is a stronger push—from both the private and public sectors—to turn potential into progress. With the right strategy, we can ensure that Dutch consumers don’t just catch up with the global fintech revolution—they help lead it.
*The full research of this Op-Ed can be found at: