Two contactless transactions made every second in Ireland

Barclaycard_contactlessNew analysis from Visa Europe indicates that the increase in the contactless card payment limit in October 2015 has had a transformative effect on consumer spending habits with Visa debit cards in Ireland.

The limit was increased from €15 to €30 on the 31st of October 2015 and has generated significant growth in contactless payments overall, with the number of weekly transactions with Visa debit cards doubling from over 600,000 to 1,300,000 in the space of six months up to the end of March.

As a result, two contactless transactions with a Visa debit card are now made every second in Ireland, with usage rates continuing to rise. Visa claim the increase in the payment threshold from €15 to €30 had a significant impact on the growth rate with the number of transactions between €15.01 and €30 with Visa debit cards growing sixteen fold since its introduction.

The usage rate in petrol stations has quadrupled thanks to low fuel costs with drivers able to buy enough petrol to drive from Dublin to Cork with a single Visa debit contactless transaction.  Usage has also quadrupled in convenience stores and more than doubled in bars and nightclubs.

Ireland Country Manager at Visa Europe, Philip Konopik says, “The popularity of contactless payments in Ireland continues to soar, with over 25 million transactions with Visa debit cards made in six months. With contactless technology, Visa is also building the foundations for the future of payments in Ireland as the same terminals will accept transactions by mobile and wearable devices.”

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Categories: Contactless Payments

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