€53m spent per day using contactless payments

Continued growth in consumer reliance on contactless payments with an increase in volume of 27% on an annual basis 

On an annual basis, the number of contactless payments had more than doubled since 2019 to 1.1 billion.

Cash is becoming less popular among consumers as contactless payments surged last year, according to banking representatives.  

Consumers spent a record high of almost €18bn in 2022, representing around a 30% rise in the previous year, showed a new report by the Banking and Payments Federation or Ireland (BPFI).