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January 23, 2014updated 21 Jan 2022 8:29am

Visa card spending touches €21bn in Ireland

The use of Visa cards in Ireland has increased by 83% to reach €21bn in 2013, according to a study by Visa Europe.

By Verdict Staff

The use of Visa cards in Ireland has increased by 83% to reach €21bn in 2013, according to a study by Visa Europe.

Factors responsible for growth include introduction of new payment technology such as contactless payments, migration of many laser cards to the Visa debit cards, and consumers becoming more comfortable using Visa cards than cash for everyday purchases.

The company reported 45.3% increase in the average number of transactions per card at the end of 30 September 2013, compared to last year’s figures. In Ireland, it reported around 358,173,000 Visa card transactions, an increase by 113.6% compared to last year’s figures.

Visa Europe Ireland country manager, Conor Langford, said Ireland is on the path to closing the gap with the rest of Europe, in terms of the use of electronic payments.

“The last year has shown that Irish consumers are very keen on adopting new technologies — such as contactless payments — and 2014 will be no different, as we launch our digital wallet and P2P mobile services in Ireland.

“There is still plenty of opportunities in terms of increasing Ireland’s competitiveness through increased usage of electronic payments,” Langford added.

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