Ireland Cards and Payments Market Share and Statistics to 2022

(MoneyNewsWire.Net, June 04, 2018 ) The installation of point-of-sale (POS) terminals in merchant outlets and enhanced banking systems resulted in the positive growth in Ireland cards and payments market.

Debit cards are the primary choice for Irish customers

Debit cards account for almost two-thirds of total number of payments cards in circulation in Ireland.

The migration of payment option from checks to debit cards along with the support from National Payments Plan initiative increases the debit card payments in Ireland. This initiative also encourages the small and medium-sized enterprises (SMEs) of Ireland to switch from checks to debit cards. The choice for debt-free finances due to the impact of growing credit card debt also favours the debit card payments in the country.

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New technologies increase the scope of customer services

Digital transformations and the adaption of new technologies changed the banking structure of Ireland increasing the experience of customers in terms of banking and other financial services. The introduction of Learn about Banking (LAB), a learning and research store by Allied Irish Banks (AIB) provides the information about available technologies in banking to the customers and also gathers the feedback from users to enhance the customer services.

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Increasing acceptance of Mobile Money payment solution

Mobile money that requires only the mobile number of the recipients to transfer funds is slowly gaining prominence in the Ireland cards and payments market. Several leading banks have already started this option such as Ulster Bank's Pay Your Contacts that savers users financial details and allows to send money to anyone on their contact with the app installed in their smartphones. Other banks like TSB launched Mobile Money service and AIB launched Me2U mobile money application to benefit from the increasing acceptance.

Some of the dominating players in Ireland Cards and Payments Market:

Allied Irish Bank
Bank of Ireland
Ulster Bank
Permanent TSB
Avantcard
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Related Reports from Market Data Forecast:

France Cards And Payments Market: https://www.marketdataforecast.com/market-reports/France-Cards-and-Payments-Market-6851/

UK Cards And Payments Market: https://www.marketdataforecast.com/market-reports/UK-Cards-and-Payments-Market-6847/

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