Irish consumers increasingly using credit cards and debit cards

The trend of using personal funds rather than debt continued, with the value of debit card transactions 5.3 times higher than that of credit cards. Excluding ATMs, there were 244 instances of debit card usage in the quarter, with users spending an average of EUR 40.62 per transaction. In the same period, there were 34 million credit transactions, with consumers spending EUR 80.12 per transaction.

In services, debit cards were used to spend EUR 203 million on transport and EUR 95 million on accommodation while in the restaurant sector some EUR 193 million was spend. Credit card spending also grew, although to a lesser extent. Spending using debt increased 10% in the retail sector and 11% in both the services and social sectors.

Data from the Central Bank of Ireland shows that Irish tourists are increasingly using their cards abroad. Including ATM transactions, card expenditure outside the Republic averaged EUR 532 million over the quarter. The Central Bank’s data is collected to understand the role of cards in the domestic financial system. Only euro-denominated cards issued to Irish residents are included in the data.