West-Nederland; Noord-Holland; Groot-Amsterdam
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64 - Financial service activities, except insurance and pension funding

162 jobs
Number of planned job losses
Job loss
Announcement Date
28 October 2021
Employment effect (start)
1 November 2021
Foreseen end date
30 June 2022


ING announced the closure of its payment services subsidiary Payvision, based in Amsterdam. All 162 employees are losing their jobs. The redundancy scheme will start immediately and will be completed as soon as all Payvision activities cease, in the second quarter of 2022.

ING acquired Payvision in 2018 for €350 million to improve its position in payment services market. It spent a lot of money in integrating Payvision and building new applications, but also to assist a portfolio of high-risk customers. The investment did not bring the expected return. As soon as ING realised that additional investments in technological innovation would have been necessary to become more competitive in the market for payment services, it decided to terminate all Payvision activities. 


  • 28 October 2021: Het Financieele Dagblad (fd.nl)


Eurofound (2021), Payvision, Closure in Netherlands, factsheet number 105482, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/105482.