Ireland’s use of electronic payments is rising but still trails the EU average, according to the Irish Payment Services Organisation (Ipso). Irish consumers are switching to debit cards from cash and are making more low-cost, convenient electronic payments through online banking channels.
Furthermore, consumers in the country use ATMs more than in any other EU country making an average of 40 withdrawals, totalling almost €5,000 per capita in 2010. Yet when it comes to electronic payments, Ireland still lags behind its European counterparts with the value of all non-cash transactions totalling 36 per cent in 2010. Although rising, this remains in stark contrast to the EU average of 96 per cent. Another notable trend is the increase in the number of people using internet banking services over the past four years with over 2.8 million customers now registered. Ipso recently reported that customers made 10.7 million online payments in Q1 2011, a 17.3 per cent increase on the same period last year.
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