Irish consumers set record €1bn in contactless spending in December

Average contactless payment is €17.36. Picture: iStock

New figures from the banking industry show contactless transactions carried out by consumers in December surpassed €1bn for the first time.

Consumers spent €36.5m per day last month through contactless transactions with debit and credit cards, the Banking & Payments Federation Ireland (BPFI) said. The volume of contactless payments in the final three months of 2020 jumped 23.7% to 174m payments. The value of the payments rose 63.4% to €2.8bn.