Forum launches plan to make Cork a cash-free city

Consumers in Cork could be using their phones to pay for goods in shops, bars, and restaurants if an ambitious cash-free city plan takes off.

As reported in yesterday’s Irish Examiner, the Cork City Centre Forum has announced details of its Cork Cashes Out initiative — a three-month pilot project to promote cash-free payments.

The plan will promote chip-and-pin, contactless, and other electronic payment options such as the Leap card and Hailo. It is hoping to make Cork the first cash-free city in Ireland.

It is understood that several of Cork’s leading tech firms — including Apple, which has its European headquarters on the northside of the city — may work on expanding the project.

In Sweden, one of Europe’s leading cash-free societies, the amount of cash in circulation has reduced from 106bn Swedish krona in 2010 to less than SEK80bn (€11.3bn to (€8.5bn).

A mobile app called Swish, which allows for real-time transactions to take place with users able to transfer money straight from their bank account to anyone else with a bank account, has driven that move.

It is understood that the group driving Cork’s cashfree plan would like to develop a similar app here with the help of tech firms.

Businessman and publican Paul Montgomery, from The Reardens Group, said the Cork Cashes Out plan will help establish the Cork as Ireland’s ‘smartest’ city.

“Already Irish consumers make a contactless payment every second, two million each month, and this is just the start,” Mr Montgomery said.