73% of Irish consumers trust cards over all other payment methods, new data shows.
The research carried out by Payments Europe reveals that 55% of consumers believe cards are the best payment method when considering safety and security, while 59% choose cards for their convenience and 54% for speed.
Given the opportunity, 63% of Irish consumers would rather pay with card over cash, with 64% of consumers expected to make more transactions via instant payments in the next year.
Meanwhile, over half of Irish consumers have not heard of the Digital Euro, and only 8% consider themselves to be knowledgeable about this form of digital payment.
When it comes to businesses, 89% are satisfied with the payment solutions available to them.
Merchants rank cards as the payment method that best meet their priorities, which are safety, security and consumer preference.
“As the Irish payments landscape rapidly evolves with technological advancements and shifting consumer preferences, government policy will play a crucial role in addressing gaps in financial and digital inclusion,” said Robrecht Vandormael, Secretary General of Payments Europe.
“This will ensure an inclusive digital journey through the provision of accessible, secure, and user-friendly payment solutions, while supporting efforts to combat fraud, financial abuse, and scams,” he added.
Article Source – Most Irish consumers trust cards over other payment methods – RTE
