The Irish Payment Service Organisation Ltd
(IPSO) has revealed consumers in Ireland are finally making the
move to conducting low cost e-payments through online banking
channels as well as switching to debit cards from cash.
Findings also show Irish consumers use ATMs on
a more frequent basis than in any other EU country averaging 40
withdrawals, totaling almost €5,000 per capita in 2010. However,
the volume of cash paid out of ATMs in Ireland dropped by over €3bn
to €22.3bn in 2010.
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IPSO CEO, Pat McLoughlin said there is a clear
trend towards greater usage of debit cards, indicating Ireland is
embracing a new era in consumer transactions providing a boost to
retailers and businesses across the country as the speed and
efficiency of payments improves.
“It is essential that Irish consumers continue
to take the lead from their European counterparts in switching to
more efficient payment methods as this will positively impact on
Ireland’s economic competitiveness,” said McLouglin.
The total spends on payment cards in Ireland
last year was €22.8bn, a number which exceeds the value of ATM
withdrawals for the first time.
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By GlobalData
