Market Research Logo

The Cards and Payments Industry in Ireland: Emerging Trends and Opportunities to 2020

The Cards and Payments Industry in Ireland: Emerging Trends and Opportunities to 2020

Synopsis

Timetric’s 'The Cards and Payments Industry in Ireland: Emerging Trends and Opportunities to 2020' 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 check payments, payment cards, cash transactions, direct debits and credit transfers during the review period (2011–2015).The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, and transaction values and volumes during the review period and over the forecast period (2016–2020). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.The report brings together Timetric’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.

Summary

Timetric’s 'The Cards and Payments Industry in Ireland: Emerging Trends and Opportunities to 2020' 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 and credit cards.
  • Detailed insights into payment instruments including credit transfers, direct debits, cash transactions, checks and payment cards. It also, includes an overview of the country's key alternative payment instruments.
  • E-commerce 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 in the Irish cards and payments industry.
Scope
  • This report provides a comprehensive analysis of the Irish cards and payments industry.
  • It provides current values for the Irish cards and payments industry for 2015, and forecast figures to 2020.
  • It details the different demographic, economic, infrastructural and business drivers affecting the Irish cards and payments industry.
  • It outlines the current regulatory framework in the industry.
  • It details marketing strategies used by various banks and other institutions.
Reasons To Buy
  • Make 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.
Key Highlights
  • The Irish government abolished stamp duty on debit card transactions effective from January 1, 2016 to reduce cash withdrawals at ATMs using debit cards. Before the abolition, consumers in Ireland paid an annual fee of US$3.3 (EUR2.5) for ATM cards and US$6.6 (EUR5) for a combination of debit and ATM card. The government replaced the duty with a new fee of US$0.16 (EUR0.12) for each cash withdrawal, in addition to the bank charges. However, there are no charges for debit card transactions at POS terminals. This initiative is anticipated to encourage debit card use at POS terminals.
  • Uptake of contactless technology among Irish consumers is growing. To encourage contactless transactions, the Irish government increased the contactless payment limit from US$16.7 (EUR15) to US$33.3 (EUR30) from October 31, 2015. On February 16, 2016, Visa Europe announced that 1 million contactless transactions on Visa cards are made every week in Ireland, as a result of the increased spending limit, compared to 2 million transactions per month in September 2015. Banks are also taking steps to encourage contactless transactions. For instance, in September 2015 Allied Irish Banks (AIB) announced plans to waive fees for contactless transactions for one year from the date of announcement.
  • The growing payment cards market has encouraged several mobile POS (mPOS) solution providers to enter the Irish market. The latest is the launch of a low-cost mPOS terminal by UK-based online solution provider Payleven (now SumUp) in March 2015. The mPOS terminal costs US$71.1 (EUR64). In October 2014, another UK-based online payment solution provider, Paysafe, partnered with domestic mPOS solution provider Handpoint to introduce mPOS terminals in Ireland. The terminals are compatible with Android and iOS smartphones and tablets, and can be linked via Bluetooth. The introduction of low-cost solutions is expected to encourage merchants to accept card-based payments, further driving payment card transaction volumes and values.


  • Definitions and Methodology
    • Definitions
      • Table Key Definitions
    • Methodology
      • Table Annual Average Exchange Rate
  • Key Facts and Events
    • Table Ireland - Key Facts, 2015
    • Table Regional Benchmarking of Ireland's Payment Cards, 2015
  • Executive Summary
  • Payment Instruments
    • Current Payment Environment
  • E-Commerce
    • E-Commerce Market Analysis
  • Alternative Payments
    • Alternative Payment Instruments
      • PayPal
      • V.me
      • MasterPass
      • Single-Click
      • Boon
      • Pay Your Contacts
  • Regulations in the Cards and Payments Industry
    • Regulatory Framework
      • SEPA cards framework
      • Interchange fee regulation
    • Anti-Money Laundering (AML)
    • Foreign Direct Investment (FDI) Regulations
      • Table Ireland - Mode of Entry of Foreign Banks
  • Analysis of Cards and Payments Industry Drivers
    • Demographic Drivers
    • Economic Drivers
    • Infrastructure Drivers
    • Business Drivers
  • Market Segmentation
    • Market Segmentation and Targeting
      • Consumer cards
        • Table Cards for High-Income Consumers, 2016
        • Table Cards for Shoppers, 2016
        • Table Balance Transfer Credit Cards, 2016
        • Table Cards for Students and Young Population, 2016
      • Commercial cards
        • Table Commercial Cards Comparison and Key Features, 2016
  • Payment Cards
    • Payment Cards Market Analysis
      • Volume and value of payment card transactions by type
  • Debit Cards
    • Debit Card Market Analysis
      • Turnover per debit card and transaction values by channel
      • Debit card scheme and issuer shares in terms of transaction value
      • Debit cards comparison
        • Table Ireland - Debit Cards Comparison and Key Features, 2016
  • Pay Later Cards
    • Pay Later Card Market Analysis
      • Turnover per pay later card and transaction values by channel
      • Pay later card scheme and issuer shares in terms of transaction value
      • Pay later cards comparison
        • Table Ireland - Gold Credit Cards Comparison and Key Features, 2016
        • Table Ireland - Premium Credit Cards Comparison and Key Features, 2016
  • Commercial Pay Later Cards
    • Commercial Pay Later Card Market Analysis
      • Commercial cards comparison
        • Table Ireland - Commercial Credit Cards Comparison and Key Features, 2016
  • Card Issuers
    • Allied Irish Banks
    • Bank of Ireland (BOI)
    • Ulster Bank
    • Permanent TSB Group
  • Prepaid Cards
    • Prepaid Card Market Analysis
      • Prepaid cards comparison
        • Table Ireland - Prepaid Cards Comparison and Key Features, 2016
  • Merchant Acquiring
    • Merchant Acquiring Market Analysis
  • Appendix
    • Tables
      • Table Ireland - Payment Instrument Transaction Values (EUR Billion), 2011-2015
      • Table Ireland - Payment Instrument Transaction Values (US$ Billion), 2011-2015
      • Table Ireland - Payment Instrument Transaction Volumes (Million), 2011-2015
      • Table Ireland - Number of Payment Cards in Circulation by Type (Million), 2011-2020
      • Table Ireland - Volume of Payment Card Transactions by Type (Million), 2011-2020
      • Table Ireland - Value of Payment Card Transactions by Type (EUR Billion), 2011-2020
      • Table Ireland - Value of Payment Card Transactions by Type (US$ Billion), 2011-2020
      • Table Ireland - Number of Debit Cards in Circulation (Million), 2011-2020
      • Table Ireland - Debit Card Transaction Volumes and Frequency by Channel, 2011-2020
      • Table Ireland - Debit Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Ireland - Number of Debit Cards in Circulation by Scheme (Thousand), 2011-2015
      • Table Ireland - Debit Card Transaction Values by Scheme (EUR Billion), 2011-2015
      • Table Ireland - Debit Card Transaction Values by Scheme (US$ Billion), 2011-2015
      • Table Ireland - Debit Card Transaction Values by Issuer (EUR Billion), 2011-2015
      • Table Ireland - Debit Card Transaction Values by Issuer (US$ Billion), 2011-2015
      • Table Ireland - Number of Pay Later Cards in Circulation (Million), 2011-2020
      • Table Ireland - Pay Later Card Transaction Volumes and Frequency by Channel, 2011-2020
      • Table Ireland - Pay Later Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Ireland - Number of Pay Later Cards in Circulation by Scheme (Thousand), 2011-2015
      • Table Ireland - Pay Later Card Transaction Values by Scheme (EUR Billion), 2011-2015
      • Table Ireland - Pay Later Card Transaction Values by Scheme (US$ Billion), 2011-2015
      • Table Ireland - Pay Later Card Transaction Values by Issuer (EUR Billion), 2011-2015
      • Table Ireland - Pay Later Card Transaction Values by Issuer (US$ Billion), 2011-2015
      • Table Ireland - Personal and Commercial Pay Later Card Transaction Volumes (Million), 2011-2020
      • Table Ireland - Personal and Commercial Pay Later Card Transaction Values (EUR Billion), 2011-2020
      • Table Ireland - Personal and Commercial Pay Later Card Transaction Values (US$ Billion), 2011-2020
      • Table Ireland - Number of Commercial Pay Later Cards in Circulation (Thousand), 2011-2020
      • Table Ireland - Commercial Pay Later Card Transaction Volumes (Million), 2011-2020
      • Table Ireland - Commercial Pay Later Card Transaction Values (EUR Billion), 2011-2020
      • Table Ireland - Commercial Pay Later Card Transaction Values (US$ Billion), 2011-2020
      • Table Ireland - Number of Prepaid Cards in Circulation (Thousand), 2011-2020
      • Table Ireland - Prepaid Card Transaction Values (EUR Million), 2011-2020
      • Table Ireland - Prepaid Card Transaction Values (US$ Million), 2011-2020
      • Table Ireland - Merchant Acquiring Transaction Volumes by Channel (Million), 2011-2020
      • Table Ireland - Merchant Acquiring Transaction Values (EUR Billion), 2011-2020
      • Table Ireland - Merchant Acquiring Transaction Values (US$ Billion), 2011-2020
      • Table Ireland - Acquirers' Transaction Volumes (Million), 2011-2015
      • Table Ireland - Acquirers' Transaction Values (EUR Billion), 2011-2015
      • Table Ireland - Acquirers' Transaction Values (US$ Billion), 2011-2015
      • Table Ireland - Retail Outlets and Card Accepting Merchants (Thousand), 2011-2020
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report