Ireland's digital payments landscape is 'lagging' behind other countries — Central Bank

Deputy governor said despite the infrastructure for instant payments being available to institutions since 2017, the providers of payment accounts in Ireland have not yet implemented or adopted it

'Many of the benefits of technology in relation to payments for domestic consumers and the broader economy remain untapped.'

The Central Bank has criticised Ireland's banks and digital payment providers, saying the country was "lagging" behind other EU countries when it comes to instant payments and transfers.

Speaking at the National Payments Conference hosted by the Banking and Payments Federation of Ireland (BPFI), Central Bank deputy governor Vasileios Madouros said much of the benefits of technology in relation to payments for consumers and the broader economy remain untapped.