Payments Europe research reveals key factors behind demand for card payments amongst Irish consumers and merchants
Dublin, 28 April 2025 – Payments Europe, the voice of the payments industry in Europe, has published new research on the Irish payments landscape. Based on a survey of consumers and merchants in Ireland, the research highlights the value, cost and place of cards in Ireland’s economy. The report also reveals a dynamic and vibrant payments landscape, driven by a rapidly transforming market that is increasingly competitive, digitalised, and shaped by evolving merchant and consumer preferences. Key findings from the report include:
Consumers
- Having a choice of payments options remains a high priority for consumers, with 88% of those surveyed saying their payment needs are met with options available to them.
- 73% of Irish consumers trust cards over all other payment methods (both at home and abroad).
- 55% of consumers believe cards are the best payment method when considering safety and security, 59% choose cards for their convenience, while 54% choose them for its speed.
- Given the opportunity, 63% of Irish consumers would rather pay with card over cash, with 64% of consumers expected to make more transactions via instant payments in the next year.
- 56% of Irish consumers have not heard of the Digital Euro, and only 8% consider themselves to be knowledgeable about this form of digital payment.
Merchants
- 89% of merchants in Ireland are satisfied with the payment solutions available to them. Merchants rank cards as the payment method that best meet their priorities, which are: safety, security and consumer preference.
- 78% of Irish merchants prefer cards over all other payment methods, which is slightly ahead of merchant preference levels across Europe (77%).
- 85% of Irish merchants believe that the benefits brought about by card payments outweigh the costs, while 82% welcome increased use of non-traditional payments beyond cards and cash.
- 98% of Irish merchants believe their business has benefitted from the guaranteed payment aspect of card payments. In addition, 96% believe card payments have enabled them to increase sales.
- Choice is also a key issue for merchants with 88% believing that accepting a large range of payment options has increased sales.
Robrecht Vandormael, Secretary General of Payments Europe, commented:
“Our latest market research on Ireland shows that that cards are the preferred payment method by both Irish merchants and consumers, offering safety, security, and speed of transaction. From a merchant perspective, it is clear that cards provide a secure, reliable, and efficient payment method that facilitates their growth, supporting the wider economy. This is augmented by a diverse range of payment options, reflecting a healthy and competitive market for consumers. As we’ve seen in other markets, businesses that offer consumers choice are best positioned to be long-term structural winners.
As the Irish payments landscape rapidly evolves with technological advancements and shifting consumer preferences, government policy will play a crucial role in addressing gaps in financial and digital inclusion. This will ensure an inclusive digital journey through the provision of accessible, secure, and user-friendly payment solutions, while supporting efforts to combat fraud, financial abuse, and scams.”