Ireland Cards and Payments - Opportunities and Risks to 2027

Abstract

GlobalData's 'Ireland Cards and Payments - Opportunities and Risks to 2027' 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 cards, cash, credit transfer, mobile wallets, direct debits and cheques during the review-period (2019-23e).

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 (2023e-27). 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, and credit cards.

Detailed insights into payment instruments including cards, cash, credit transfer, mobile wallets, 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.

Scope

• Instant payments have not been launched at a country level, but SCT Inst is offered by 11 participants in Ireland as of November 2023. SCT Inst is a pan-European instant credit transfer scheme launched by the European Payments Council. It operates 24 hours a day, seven days a week, 365 days a year, settling funds in near-real-time. The system enables P2P, consumer-to-business, business-to-consumer, and business-to-business payments directly between accounts via different channels such as online and mobile banking, with a transaction limit of EUR100,000 ($107,323.11).
• The growing popularity of digital-only banks is driving competition in the banking space, helping boost debit card holding. UK-based neobank Revolut offers Standard, Plus, Premium, Metal, and Ultra accounts, which include a debit card. Meanwhile, Dutch digital-only bank bunq launched in Ireland in May 2022. The bank offers debit cards to its account holders.
• In May 2022, the Central Bank of Ireland extended the scope of its consumer protection rules to include companies offering buy now pay later (BNPL) services. As a result, companies offering credit to consumers allowing them to spread the cost of purchases across installments are required to obtain permission from the central bank. The regulator also capped the annual interest rate charged by BNPL companies at 23%. This move follows the commencement of the Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) Act 2022, which was signed into law in April 2022.

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.