Sunday 17 November 2019

Average sum in our pockets is €23 as ATMs on the decline

Aoife Hyde

WE carry an average of €23 in our wallets but still take out more money from bank machines than any other European country, according to new research.

The new figures suggest we carry just over €78m in cash as we walk around every day.

The Irish Payment Services Organisation said yesterday that the number of ATM machines in Ireland is, however, declining, as consumers turn to plastic cards and instant electronic payments rather than cash.

The survey by credit card company Visa of 1,000 people also found that Irish people spend 187,000 hours in queues in shops every day.

The study was carried out as Visa tries to persuade people to adopt so-called "contactless" payment, which allows shoppers to pay for minor transactions with a swipe card at shop tills and without a pin number.

Convenience stores including Centra, Mace, Spar and Eurospar have already begun installing the technology.

Irish Independent

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