The popularity of contactless payments has boosted the value of debit card transactions by 18.5% in December – the peak shopping month of the year-end season.
Statistics from the Central Bank show that debit card transactions at PoS points increased by nearly 20% to 4.8 billion euros in December, compared to the same period last year. After being officially introduced to the market a few years ago, up to now, contactless transactions have been increasingly favored for small and medium transactions.
In the last quarter of last year, debit cards were used in 305 million PoS transactions, with an average spending of EUR 41.53 per transaction. Besides, the number of transactions with personal credit cards is 42 million, with an average spending of about 74.60 euros per transaction.
Debit card spending at PoS and ATM is 5.6 times higher than the value of credit card spending in the same quarter.
– According to Irishtimes –
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