ABN Amro partners Dutch paytech Buckaroo for merchant payment services
Dutch bank ABN Amro has selected Buckaroo to provide online and point-of-sale merchant payment services for its retail business clients.
ABN Amro partners Buckaroo for merchant payment services
As part of the newly formed partnership, Buckaroo will assume management of the bank’s debit card acquiring contracts, which ABN Amro claims span from small and medium-sized enterprises (SMEs) to corporate retailers.
Founded in 2005 and based in Utrecht, the Netherlands, Buckaroo offers a suite of payment solutions for online and in-store retailers, including iDEAL, SoftPOS, recurring payments, payment terminals, PayByBank and buy now, pay later (BNPL), among others.
This suite is now set to be made available to ABN Amro’s clients, with a phased transfer of all PIN transactions to Buckaroo.
Erica Kostelijk, director of ABN Amro transaction banking, describes Buckaroo as “a good match” for the bank as it aims to provide its clients with further payment support “to make their business a success in this rapidly developing market”.
The deal with Buckaroo marks the latest development in the bank’s ambition to broaden both its payment capabilities and the scope of its partnerships across the industry.
Last year, for example, ABN Amro partnered with Infosys Finacle to help enhance its corporate clients’ commercial cash flows with its liquidity management solution, and tasked specialist private equity firm Motive Partners with managing its ventures fund.
It rounded off 2023 by acquiring Dutch neobroker Bux in an effort to secure its position within the retail investment space.
