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One Contactless Transaction Made Every Second In Ireland With Visa Debit Cards

19/10/2015

October 19 2015: Visa Europe, the payments technology company, has revealed that Irish consumers are now making over two million contactless transactions with Visa Debit cards every month. As a result there is a contactless payment made every second in Ireland, highlighting the popularity of the new payment method.

Consumers are increasingly opting to make contactless payments for everyday items due to faster transaction times and the convenience of not having to take cash out of an ATM for purchases.

Contactless payments are widely embraced by millions of Visa cardholders across the continent every day. Adoption and usage of contactless cards in Europe continues to grow, most recently marked by more than one billion transactions across Europe in the last 12 months. It is now an expected standard of payment across Europe, helping to make paying for goods much easier. Irish Visa cardholders made contactless transactions in 70 foreign destinations, while tourists from 54 countries made a contactless payment using their Visa card in Ireland.

As referenced by Minister Noonan during his Budget speech last week, Visa Europe has confirmed it is increasing the threshold for contactless payments from €15 to €30 from 31st October. Over the coming weeks and months, retailers will begin to change the limit in store as the new payment limit is rolled out. Retailers will benefit from the move as it will help to cut queue times, while also enhancing security and reducing cash handling costs.

The new threshold will increase the appeal of contactless payments to consumers and retailers alike, as it will open up a new range of opportunities to use the technology. For example, the new €30 limit will make it possible to pay for an item of clothing or small basket of shopping in a supermarket. The average Visa contactless purchase value made is €7.92.

A range of retailers have already embraced contactless payments in Ireland including McDonalds, Insomnia, Arnotts, Boots, Centra, Marks and Spencer, Spar, Eurospar, Mace, H&M, Burger King, KC Peaches, O’Briens Sandwich Bars and Munchies.

Conor Langford, Country Manager Ireland, Visa Europe, said: “Contactless payments continue to go from strength to strength in Ireland as consumers see them as the fast, easy & secure way to pay. We’re delighted to move into the next phase of their adoption as we push to make contactless payments ubiquitous. This also forms part of our commitment to the Government’s National Payments plan to help boost the number of electronic payments in Ireland, which will enhance our national competitiveness.”

€1 in every €3 of consumer spending in Ireland is now on a Visa card – Debit, Credit or Prepaid – making Visa Europe’s data one of the most reliable indicators of trends in consumer spending.