Irish users double contactless Visa payments in six months

Raising of limit on transactions to €30

Male Close-up electronic payment hand cell phone market

Male Close-up electronic payment hand cell phone market

 

Raising the limit on contactless payments to €30 has fuelled significant growth in the use of the cards, new research from Visa Europe has found.

The card company said two contactless transactions with Visa debit cards were being made made every second in Ireland.

The €15 limit for the “tap and go” payments, set when the payment method was introduced in 2011, was raised to €30 in October 2015. Visa Europe said since then, usage has doubled.

“The popularity of contactless payments in Ireland continues to soar, with over 25 million transactions with Visa debit cards made in six months,” said Philip Konopik, Ireland Country Manager for Visa Europe. “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.”

The card companies have been keen to push the new technology, saying it speeds up transaction times, is more secure and cuts down on cash handling for retailers.

Among those who have seen a significant increase in contactless activity since the limit was increased are petrol stations, nightclubs and bars, and convenience stores.