Integration Requirements in the Netherlands

When doing integrations for sales to the Netherlands, some of requirements apply.

Merchants advertising a credit on their website are required to inform the end customer about the financial consequenses of entering into a credit agreement by displaying a credit warning banner whenever a credit is advertised.

Merchants are required to inform the end customer that they are incurring a credit debt, by displaying a banner whenever a customer is about to sign up for credit.

In order to offer part payment in the Netherlands over a particular sum (currently €250), an ILT needs to be performed.

ILT stands for ‘Inkomens- en LastenToets’. It is an affordability test, required to be performed by the entity providing the credit. It consists of a set of questions where you ask the consumerabout things like their household (income, number of persons) and any debts they may have. Based on these answers, together with the information received from a credit lookup, you need to make an assessment on whether it’s responsible to provide the consumer with a credit.

Currently Klarna hasn’t integrated an ILT in its credit offering procedure. Therefore, part payment options must not be displayed to the customer whenever the purchase sum exceeds €250.

https://www.afm.nl/nl-nl/professionals/doelgroepen/kredietaanbieders/normen

https://www.thuiswinkel.org/english

In The Netherlands specific requirements apply when offering Klarna Account . The requirement comes from the Act on Financial Supervision (Wft) and is upheld by the Financial Markets Authority (Autoritet Financiële Markten ) in the Netherlands.

Merchants advertising a credit on their website are required to inform the end customer about the financial consequenses of entering into a credit agreement by displaying thecredit warning banner.

Any merchant using Klarna Account is required to present this banner each time part-payment is advertised, for example by showing the part-payment price on an article.

The banner consists of the warning and logo:

The banner contains a warning that says “Attention! Borrowing money costs money”.

The implementation of the AFM Let Op! banner is done on each advertisement of part payment calculations. AFM has specific requirements of what format and size the banner shall have, in relationship to the part payment announcement:

• The credit warning banner needs to cover the entire width of the part payment
• The size of the banner shall be at least 10% of the entire advertisement
• The text in the banner shall be at least 7pt high

More information about the regulation can be found here:

https://www.afm.nl/nl-nl/professionals/onderwerpen/informatieverstrekking/kredietwaarschuwing-iv

Banners in various formats and sizes are available here:

https://www.afm.nl/nl-nl/professionals/onderwerpen/downloadbestanden-informatieverstrekking/kredietwaarschuwing-downloadbestanden