Chambers Ireland has criticised reports from the Government that ATM transactions should be taxed.
The group the proposal goes against all logic as a means of reducing cash in transit and supporting an e-Payment focused economy.
Ian Talbot, Chambers Ireland Chief Executive, said: "A move to e-Payment would save more than €1.6bn in transaction costs while also providing significantly enhanced traceability on cash transactions.
"This in turn would attack the Black economy, aid the Exchequer in raising taxes and support legitimate businesses currently losing out to cash-based cowboy operators.
"Such a move would also reduce the amount of cash in circulation around the country which is enabling tiger kidnappings."