Over one million contactless transactions made in Ireland every week

Visa Europe today announced a new contactless payments milestone in Ireland as over one million Visa contactless transactions are now being made per week as its usage continues to soar.

The contactless payment limit on Visa cards increased from €15 to €30 since 31st October 2015 and the new threshold has extended the appeal of contactless payments to consumers as they are able to use the technology in a variety of new scenarios like paying for an item of clothing or petrol at a forecourt.

Visa Europe has also announced a new eCommerce record as online consumer spending with Irish Visa cards – Debit, Credit and Prepaid – over twelve months rose to approximately €6.5 billion, a 17% rise compared to the same period a year prior. As a result, eCommerce accounts for 21% of spending with Irish Visa cards.

The new milestones are a result of the continued shift from cash and cheque usage. The total number of transactions on Irish Visa cards – Debit, Credit and Prepaid – increased by approximately 16% over the course of the year to 584 million transactions

Commenting on the announcement, Philip Konopik, Visa Europe’s Ireland Country Manager, said: “It’s an incredibly exciting time for payments in Ireland. Consumers and retailers today are more willing to use Visa card payments in a variety of scenarios – signing up to an online subscription service like Netflix, entering payment details into a mobile app like Hailo, or using contactless Visa cards for lunch.

These figures highlight that the popularity of card payments in Ireland continues to grow, with consumers and retailers opting for the reliable, secure and convenient payment options offered by Visa. With the increasing popularity of contactless payments since the introduction of the new €30 payment limit, consumers are now also able to pay more quickly and spend less time in queues.

The pace of change is now accelerating as evidenced by the growth of contactless payments and online shopping in Ireland. The cashless payment journey has only just begun and our focus now is to engage and partner with businesses of all sizes to build propositions that will serve their customers and increase the appeal of Visa payments – making life a touch easier.”