BofI to introduce new debit cards

Bank of Ireland will introduce a new cashless payment method to Irish customers later this year when it issues its “contactless” Visa debit cards.

The bank said the cards were aimed at small transactions, limited to €15, and would enable customers to pay for items in stores in less than a second, simply by holding the card over a reader in the shop.

Almost one million of the cards, which use a secure technology called near-field communications, will be issued to customers in the second half of the year.

The bank said the card contained security features that would stop it being used by unauthorised people.