Financial trends to watch, four in five payments in Ireland go cashless

Cash-Only Hospitality Businesses Risk Losing Customers as Digital Payments Become the Norm

Square’s research reveals cash accounts for just one in five in-store transactions, down from nearly four in five a decade ago, as digital payments rise

Nearly two in five (37%) of Irish consumers primarily pay with a physical card and more than a third (34%) use a mobile wallet

Nearly three-quarters (73%) of under-25s say their phone has replaced their physical wallet

Four in five payments in Ireland go cashless

New research from Square’s Tap, Pay, Walk Away: How Ireland Pays in 2026 report has found just one in five Irish adults (20%) now mainly uses cash for in-store payments, down from a cash share of 79% of all point-of-sale transactions in 2016, according to ECB.

The report, based on a survey of 1,200 Irish adults conducted by Amárach Research, found that Ireland’s payments landscape has changed dramatically. Today, 37% of Irish consumers primarily pay with a physical debit card and 34% use a mobile wallet. For younger consumers the shift is even more pronounced, with 73% of under-25s saying their phone has replaced their physical wallet.

Critically, most people are no longer carrying emergency cash. When asked what they would do if their favourite local café could not accept a card payment for a €4.50 coffee, fewer than half (43%) said they always carry cash for situations like that. For the majority, a cash-only policy means a lost sale.

The impact is sharpest among younger customers: nearly half (47%) of 18-24 year olds have experienced a payment refusal in-store in the past six months: the demographic most likely to walk out or go somewhere else.

Marc Bereen, owner of Coppinger in Dublin, said: “At Coppinger, we pride ourselves on making customers feel welcome from the moment they walk in and accepting digital payments is part of that. We’ve noticed a real decline in customers paying with cash over the past few years, and since integrating Square into our payments setup, we’ve been able to serve a much wider customer base.

“Technology plays a big role in the customer experience now, and keeping up with the latest tech is as important as anything else we do. Whether someone wants to tap their card or use their phone, we don’t want the way they pay to be a barrier. It’s a small thing that makes a real difference.”

John O’Beirne, CEO of Square International, said: “Irish consumers expect seamless, modern and flexible payment options that are convenient and fit their lives. For hospitality businesses, where every sale matters, not being able to accept a customer’s preferred payment method is a preventable loss. The data is clear: cash is no longer king but this problem is easily solved, and the cost to businesses of not acting is growing.”

Square also surveyed 275 small and medium-sized businesses across retail, hospitality and main street services. While the vast majority accept both digital and cash payments, a gap exists between what sellers believe their customers experience and what consumers actually report. Only 15% of businesses said customers had asked for a payment method they do not currently offer, yet 34% of consumers said they had tried to pay somewhere that did not accept their preferred method.

Square recommends that hospitality businesses plan for the continued decline in cash usage and ensure they are equipped to accept card and mobile wallet payments as standard, while keeping cash available for customers who still need it.

The full report, Tap, Pay, Walk Away: How Ireland Pays in 2026, is available here.

The Square Tap, Pay, Walk Away report is based on two studies by Amárach Research, conducted in December 2025: an online survey of 1,200 Irish adults representative of the total population, and a telephone and online survey of 275 SME decision-makers in retail, hospitality and main street services.

About Square

Square helps businesses turn transactions into connections and businesses into neighbourhood favourites.

In 2009, Square started with a simple invention — the first mobile card reader, which changed how the entire financial system thinks about small businesses. Square has since grown into a global business platform helping millions of sellers of all sizes participate and thrive in their communities.

From point of sale and payments to online commerce, staff management, and more, Square brings together the tools sellers need to run and grow on one intelligent platform. For more information, visit squareup.com

Squareup International Limited, trading as Square, is regulated by the Central Bank of Ireland.

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