Budget changes drive use of contactless electronic transactions

Changes introduced as part of last year’s budget which raised the limit for what customers can spend with contactless payments has helped the number of transactions double in just six months.

Ireland’s continued move away from cash in favour of electronic payments has gathered pace with two contactless transactions now made every second across the country.

Significant growth in the number of contactless payments increased after Finance Minister Michael Noonan raised the amount customers could spend from €15 to €30 per transaction last October.