Ireland Cards and Payments – Opportunities and Risks to 2027

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Ireland Cards and Payments Market Report Overview

The annual value of card transactions in the Ireland cards and payments market is estimated to be $102.4 billion in 2023 and is expected to grow at a CAGR of more than 11% during 2023-2027. The Ireland cards and payments market research report provides a detailed analysis of market trends in the Ireland cards and payments industry. It provides values and volumes for several key performance indicators in the industry including cash, mobile wallets, credit transfers, cards, direct debits, and cheques during the review period. The report also analyzes various payment card markets operating in the industry.

Ireland Card Transactions Outlook, 2023-2027 ($ Billion)

Ireland Card Transactions Outlook, 2023-2027 ($ Billion)

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The report provides detailed information on the number of cards in circulation, transaction values, and volumes during the review period and over the forecast period. It also offers information on the country’s competitive landscape, including market shares of issuers and schemes. The report also covers regulatory policy details and recent regulatory structure changes. It includes information on the payment instruments that are in use in the Ireland market, the key segments within the market, as well as the companies associated with the Ireland cards and payments market.

Annual Value of Card Transactions (2023) $102.4 Billion
CAGR (2023-2027) >11%
Forecast Period 2023-2027
Historical Period 2019-2022
Key Payment Instruments ·        Cards

·        Mobile Wallets

·        Credit Transfers

·        Cash

·        Direct Debits

·        Cheques

Key Segments ·        Card-Based Payments

·        E-Commerce Payments

·        Merchant Acquiring

·        In-Store Payments

·        Buy Now Pay Later

·        Mobile Payments

·        P2P Payments

·        Bill Payments

·        Alternative Payments

Leading Players ·        Visa

·        Mastercard

·        Bank of Ireland

·        Ulster Bank

·        Allied Irish Bank

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Ireland Cards and Payments Market Dynamics

Ireland’s payment card market is rapidly growing while cash usage is declining. This is supported by an almost 100% banked population and strong financial awareness. In addition, the efforts of the government and financial institutions to boost the adoption of electronic payments and expand the acceptance of payment cards among retailers will also propel the card and payment market growth.

The proliferation of digital-only banks, alternative payment solutions, and contactless technology as well as growth in the e-commerce market are all set to support payment market growth going forward. However, soaring inflation, economic slowdown, and geopolitical uncertainty will present challenges for the industry.

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Ireland Cards and Payments Market Segmentation by Payment Instruments

Cards are the dominant payment method by transaction volume in 2023.

The key payment instruments in the Ireland cards and payments market are cards, mobile wallets, credit transfers, cash, direct debits, and cheques. Payment cards are gaining popularity at the expense of cash. The strong banked population, increasing installation of POS terminals, growing adoption of contactless cards, and government efforts to promote electronic payments have contributed to this growth.

Ireland Cards and Payments Market Analysis by Payment Instruments, 2023 (%)

Ireland Cards and Payments Market Analysis by Payment Instruments, 2023 (%)

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Ireland Cards and Payments Market Segments

Visa has a stronghold over the country’s debit card market

The key segments in the Ireland cards and payments market are card-based payments, e-commerce payments, merchant acquiring, in-store payments, buy now pay later, mobile payments, and alternative payments among others.

Card-Based Payments: There has been a shift in consumer preference towards electronic methods of payment in Ireland. This can be attributed to the efforts of government and banking institutions to promote card payments. In addition, the rising adoption of contactless cards, the emergence of digital-only banks, and strong e-commerce growth are expected to further boost card payments going forward.

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Ireland Cards and Payments Market - Competitive Landscape

A few of the leading players in the Ireland cards and payments market are:

  • Visa
  • Mastercard
  • Bank of Ireland
  • Ulster Bank
  • Allied Irish Bank

Mastercard and Visa have a duopoly over the Irish credit card market. Mastercard offers a range of credit cards including World and World Elite variants in partnership with major banks such as Bank of Ireland, An Post Money, EBS, and KCB. To increase card uptake and usage, scheme providers offer loyalty and reward programs. For instance, Mastercard offers its Mastercard Premium and Priceless Cities programs in Ireland, offering cardholders various benefits, discounts, and cashback.

Leading Ireland Cards and Payments Players, 2023

Leading Ireland Cards and Payments Players, 2023

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Scope

  • 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 cards, cash, credit transfers, mobile wallets, 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.
  • Comprehensive analysis of consumer attitudes and buying preferences for cards.

    The competitive landscape of the Irish cards and payments industry.

Reasons to Buy

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

AIB
Bank of Ireland
Permanent tsb
Ulster Bank
Bankinter
Visa
American Express

Table of Contents

Market Overview

Payment Instruments

Card-Based Payments

Merchant Acquiring

Ecommerce Payments

In-Store Payments

Buy Now Pay Later

Mobile Payments

P2P Payments

Bill Payments

Alternative Payments

Payment Innovations

Job Analysis

Payment Infrastructure and Regulation

Appendix

Frequently asked questions

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