German payments company Payment Network enters the Dutch online payments market with Direct e-banking, an internet banking-based payment method. The German company showcased its product at the Webwinkel Vakdagen e-commerce tradeshow held in Utrecht on 28 and 29 January 2008.

Direct e-banking allows Dutch consumers to pay for their online purchases and is available to Fortis, ABN, Rabobank, SNS, and ING Bank online banking account holders.

In the Netherlands, Direct e-banking is set to compete directly with iDEAL, the rapidly growing online banking-based payment method developed by several large Dutch banks. Nevertheless, Andrea Anderheggen, Chairman and Chief Operating Officer of Payment Network AG said the company is set to strive to make Direct e-banking the main online banking based payment method in the Netherlands, citing ease of use and low merchant fees as their unique selling points.

Direct e-banking is already operating in Germany, Austria and Switzerland under the name Sofort Uberweisung. In 2009, Payment Network is planning to roll out Direct e-banking in Belgium, the UK and France.