Debit card transactions
Using a debit card and Personal Identification Number to make payments through the international brands Maestro and V PAY is popularly called ‘pinnen’ in the Netherlands. Debit card transactions are a fast, safe and easy way of paying in shops, restaurants or at unstaffed POS terminals (for example at filling stations or in cinemas).
With a debit card the customer always pays the exact amount (no change necessary). The advantage for the merchant is that the payment is carried out quickly and safely, without any cash being placed in the cash register. On business days, the amount will be in the merchant’s account within 24 hours. He does not have to incur any expenses for secure cash transportation and the risk of robbery is lower.
It has been possible to pay for purchases in the Netherlands by debit card and PIN since 1987. Since then, the debit card has become the most important form of payment in the Netherlands besides cash. The Payments Association and the banks, Maestro, V PAY and business owners encourage the use of debit cards, also for small amounts.
Since the introduction of the new form of debit card transaction, we no longer pay using the magnetic stripe, but instead use the EMV chip (EMV stands for Europay, MasterCard, VISA). This makes debit cards transactions even safer, because a chip is virtually impossible to copy. A debit card transaction refers to a payment using Mastercard’s Maestro or VISA’s V PAY, and is possible at over 305,000 POS terminals in the Netherlands. The debit card can also be used for debit card transactions and cash withdrawals in other Euro countries and beyond. Foreigners with these brands on their debit cards can easily pay or withdraw cash in the Netherlands.