Payments Landscape in Ireland: Opportunities and Risks to 2022

Press Release

Payment methods and associated scenarios vary from country to country, depending on the currency type, manner of transactions, demand for automated payment systems, and other factors. With reference to the use of different payment methods in Ireland, a distinct payments landscape in Ireland market exists from a regional perspective. In recent times, Ireland has witnessed the dawn of numerous types of payment systems in recent times. This is mainly due to the ever-growing tourism industry, expanding agrochemical sector, as well as presence of quality lifestyle among communities in the country. In the payments landscape in Ireland market, a key trend visible involves high penetration of phone payment systems, faster online payments, and free app-controlled bank accounts for individuals as well as business parties, among various other options. Since the last couple of years, the payments landscape in Ireland market has witnessed profound growth with the launch of mobile payment systems. The above mentioned procedures are expected to impart a heavy competitive load on traditional credit and debit card payments used in the country till now. However, even these processes are undergoing a massive change in the payments landscape in Ireland market, thus expected to contribute towards splendid growth. The competition in current times in the Ireland payment landscape market is highly competitive with most players focusing on improving speed and ease of transactions. Several payment apps are expected to provide stiff competition to bank-based transactions in the near future. The competition is expected to highly intensify as the number of players could increase in the payments landscape in Ireland market. Summary

GlobalDatas “Payments Landscape in Ireland: Opportunities and Risks to 2022”, report provides detailed analysis of market trends in the Irish cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfers, direct debits, and cheques during the review-period (2014-18e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2018e-22f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together GlobalDatas research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

This report provides top-level market analysis, information and insights into the Irish cards and payments industry, including –
– Current and forecast values for each market in the Irish cards and payments industry, including debit and credit cards.
– Detailed insights into payment instruments including cash, cards, credit transfers, direct debits, and cheques. It also, includes an overview of the country's key alternative payment instruments.
– E-commerce market analysis.
– Analysis of various market drivers and regulations governing the Irish cards and payments industry.
– Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.


– Irish consumer uptake of alternative payments is gaining traction with the launch of new payment solutions including Apple Pay, Google Pay, and Seqr. Apple Pay was launched in Ireland in March 2017. The mobile payment solution enables users to conduct in-store, in-app, and online payments; it is supported by Allied Irish Banks (AIB), boon, KBC (Mastercard credit and debit cards), N26, and Ulster Bank. In July 2016, Sweden-based company Seamless launched its mobile payment solution Seqr. This was followed by the launch of Google Pay in December 2016.
– In addition to traditional banks, digital banks are also offering banking products including current accounts and debit cards. Germany-based mobile-only bank N26 offers free bank accounts for both individual and business customers, along with a debit card. Revolut also offers free accounts in Ireland, while UK-based, mobile-only Starling Bank plans to enter the Irish market and offer low-cost digital current accounts to consumers.
– To capitalize on the growing popularity of digital banking, in September 2017 KBC Bank introduced a mobile app that enables individuals to open bank accounts within five minutes. Customers also receive an instant digital debit card and 5 ($6) credit in their account. And in August 2018, AIB upgraded its mobile banking app to enable individuals to instantly open a digital personal current account. Once registration is complete, customers are offered a digital debit card for immediate use.

Reasons to buy

– Make strategic business decisions, using top-level historic and forecast market data, related to the Irish cards and payments industry and each market within it.
– Understand the key market trends and growth opportunities in the Irish cards and payments industry.
– Assess the competitive dynamics in the Irish cards and payments industry.
– Gain insights into marketing strategies used for various card types in Ireland.
– Gain insights into key regulations governing the Irish cards and payments industry.

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