Ireland Cards and Payments - Opportunities and Risks to 2026

Ireland Cards and Payments - Opportunities and Risks to 2026

Summary

GlobalData’s ‘Ireland Cards and Payments - Opportunities and Risks to 2026' report provides detailed analysis of market trends in the Irish cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfer, cash, mobile wallets, cards, direct debits, and cheques during the review-period (2018-22e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2022e-26f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

The report provides top-level market analysis, information and insights into the Irish cards and payments industry, including - Current and forecast values for each market in the Irish cards and payments industry, including debit, credit, and charge cardsDetailed insights into payment instruments including credit transfer, cash, mobile wallets, cards, direct debits, and cheques . It also, includes an overview of the country's key alternative payment instruments.Ecommerce market analysis.Analysis of various market drivers and regulations governing the Irish cards and payments industry.Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.Comprehensive analysis of consumer attitudes and buying preferences for cards.The competitive landscape of the Irish cards and payments industry.ScopeDigital-only banks are driving competition in the banking space, thus helping boost debit card holding. In November 2020, Germany-based mobile-only bank N26 launched the N26 Smart account with a Mastercard-branded debit card across Europe, including Ireland. Meanwhile, Dutch digital-only bank bunq launched in Ireland in May 2022. The bank offers debit cards to its account holders.Ireland does not have a domestic instant payment system. SCT Inst is available in the country, but only a handful of banks and payment services providers offer the service in Ireland, including HSBC, Revolut, and Barclays (for corporate customers only). SCT Inst is a pan-European instant credit transfer scheme launched by the European Payments Council. The system operates 24 hours a day, seven days a week, 365 days a year and settles funds in near-real-time, with recipient banks required to credit amounts to their customers no more than 10 seconds after a payment is received. SCT Inst supports both individual and business transactions, enabling P2P, consumer-to-business, business-to-consumer, and business-to-business payments directly between accounts via different channels such as online and mobile banking. A maximum of EUR100,000 ($113,765.07) per transaction is allowed. The adoption of contactless payments for public transport will further push card payments in Ireland. In May 2022, the National Transport Authority confirmed the launch of contactless technology on Dublin buses by the end of 2023. Once launched, this initiative will enable passengers to pay for bus fares via contactless debit cards, NFC-based mobile payment solutions such as Apple Pay and Google Pay, as well as by scanning QR codes.Reasons to BuyMake strategic business decisions, using top-level historic and forecast market data, related to the Irish cards and payments industry and each market within it.Understand the key market trends and growth opportunities in the Irish cards and payments industry.Assess the competitive dynamics in the Irish cards and payments industry.Gain insights into marketing strategies used for various card types in Ireland.Gain insights into key regulations governing the Irish cards and payments industry.