An increase in the limit for contactless payments has seen more people adopting the technology.
Two contactless transactions are made every second in Ireland and retailers are beginning to see strong results.
Last October, the limit for contactless payment was increased from €15 to €30.
Weekly transactions with Visa debit cards have doubled in Ireland from over 600,000 to 1,300,000 in the space of six months up to the end of March.
“The popularity of contactless payments in Ireland continues to soar, with over 25 million transactions with Visa debit cards made in six months,” says Philip Konopik, Ireland country manager, Visa Europe.
The usage rate in petrol stations has quadrupled (thanks in part to lower fuel costs). Coffee shops and convenience stores are also seeing a sharp rise in ‘tap and go’ payments.
Payments with a Visa card now account for more than €1 of every €3 spent in Ireland.
The number of consumers using traditional methods of payment such as cash and cheque is fading as more people embrace ‘tap and go’ payment technology.
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