1. Market Research
  2. > Financial Services
  3. > Banking
  4. > Payments Market Trends
The Cards and Payments Industry in Ireland: Emerging Trends and Opportunities to 2020

The Cards and Payments Industry in Ireland: Emerging Trends and Opportunities to 2020

  • May 2017
  • 59 pages
  • ID: 3994848
  • Format: PDF
  • GlobalData
Up to $1650 off Until Oct 31st 2020


Table of Contents

Search Inside

The Cards and Payments Industry in Ireland: Emerging Trends and Opportunities to 2020


Cash has been a preferred instrument for consumer payments, accounting for 55.7% of the total payment transaction volume in 2016. However, its use is expected to decrease as electronic payments grow. Government initiatives to encourage card payments, a surge in contactless payments and consumer preference for emerging payments, such as digital and mobile wallets, are all expected to reduce cash’s share in favor of electronic payments over the forecast period.

Debit cards remain the preferred payment card among Irish consumers, accounting for 81.6% of the payment card transaction value in 2016. Rising consumer use of debit cards for low-value transactions, the growing banked population, the government’s launch of the National Payments Plan to encourage use of electronic instruments such as debit cards over checks, the removal of stamp duty on ATM transactions, and the lowering of interchange fees to a minimal 0.1% were key factors supporting use of debit cards. High interest rates on credit cards and the ready availability of overdraft facilities shifted consumer preference towards debt-free financial products.

Overall, the credit card market registered a sluggish review-period CAGR of 0.59% in terms of transaction value. As bank lending slowed during the eurozone crisis, Irish consumers began to limit credit card spending. Banks also applied more stringent lending requirements, which increased the adoption of debit cards as consumers preferred to spend only what they had.

International merchant acquirers are entering the Irish payment cards market through partnerships and acquisitions. US-based acquirer First Data, with AIB, entered into a partnership with China UnionPay (CUP) in June 2014, to become the first merchant acquirer in Ireland to provide payment acceptance services for CUP debit and credit cards. In August 2014, Evo Payments, a leading merchant acquirer in North America and Europe, partnered with Bank of Ireland (BOI) to expand its merchant acquiring business in Ireland. The services are marketed through Bank of Ireland Payment Acceptance, which is primarily responsible for offering payment card solutions to Irish merchants.

E-commerce in Ireland posted a review-period CAGR of 11.77%, growing from US$7.7 billion (EUR7.3 billion) in 2012 to US$12.0 billion (EUR11.4 billion) in 2016. Rises in online and smartphone penetration, the number of online shoppers and the availability of payment gateways supported e-commerce’s growth in the country. Leading e-commerce websites in Ireland include Linwoods Health Foods, James Whelan Butchers and McElhinney’s Ballybofey Donegal. International e-commerce companies such as eBay, Apple, Zynga.com and Amazon also have presences in the country.

The report "The Cards and Payments Industry in Ireland: Emerging Trends and Opportunities to 2020" provides top-level market analysis, information and insights into the Irish cards and payments industry.

Moreover, this report enables the following -
- Current and forecast values for each market in the Irish cards and payments industry, including debit and credit cards.
- Detailed insights into payment instruments including credit transfers, checks, cash, direct debit and payment cards. It also, includes an overview of the country’s key alternative payment instruments.
- E-commerce market analysis and payment methods.
- Analysis of various market drivers and regulations governing the Irish cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.

Companies mentioned in this report: AIB, BOI, Ulster Bank, Permanent TSB, AvantCard, Visa, Mastercard.


- On January 1, 2016 the Irish government replaced stamp duty with a surcharge on ATM cash withdrawals, with an aim to discourage use of debit cards at ATMs and drive in-store payments. Until 2016, consumers were charged a flat annual stamp duty of US$2.6 (EUR2.5) on ATM cards, and US$5.3 (EUR5) on combinations of debit and ATM cards, irrespective of frequency of use. This is now replaced with a new tax structure under which cardholders are charged US$0.13 (EUR0.12) per ATM cash withdrawal, with an annual cap of US$2.6 (EUR2.5) on ATM cards, and US$5.3 (EUR5) on combinations of debit and ATM cards. In contrast, debit card transactions at POS terminals are free of charge. This is expected to discourage card use at ATMs and to encourage the use of debit cards for in-store payments.
- In December 2015, the EU-wide cap on the interchange fee was implemented in Ireland. However, the Irish government implemented a debit card interchange fee cap of 0.1%, which is 50% lower than the standard EU cap of 0.2%. The interchange fee cap on credit cards, however, remains at the EU level of 0.3%. While the regulation is expected to substantially impact the profitability of card issuers and schemes, according to the Irish government the cap will help merchants save up to US$37.9 million (EUR36 million) annually, encouraging them to accept card-based payments.
- Irish consumer uptake of contactless technology is rising. The Irish government increased the contactless payment limit from US$15.8 (EUR15) to US$31.6 (EUR30) from October 31, 2015, and on February 16, 2016, Visa Europe announced that 1 million contactless transactions on Visa cards were made every week in Ireland as a result of the increased limit, compared to 2 million transactions per month in September 2015. As of April 2017, around 3 million Visa contactless cards had been issued in Ireland are accepted by more than 20,000 merchants. Almost all major banks, including Kredietbank ABB Insurance CERA (KBC Bank), Allied Irish Banks (AIB), Permanent TSB, Bank of Ireland (BOI) and Ulster Bank now offer contactless cards.

Reasons to buy

- Make strategic business decisions, using top-level historic and forecast market data, related to the Irish cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Irish cards and payments industry.
- Assess the competitive dynamics in the Irish cards and payments industry.
- Gain insights into marketing strategies used for various card types in Ireland.
- Gain insights into key regulations governing the Irish cards and payments industry.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
20% Off


  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Switzerland Cards and Payments - Opportunities and Risks to 2024

  • $ 2750
  • October 2020
  • 54 pages

Switzerland Cards and Payments - Opportunities and Risks to 2024 Summary ’Switzerland Cards and Payments - Opportunities and Risks to 2024’ report provides detailed analysis of market trends in ...

  • Switzerland
  • Payments
  • Debit Card
  • Industry analysis
  • ATM Transaction
  • Card Transaction


Reportlinker.com © Copyright 2020. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on