Thursday, August 22 12:12:33
Sage Pay, Ireland's largest provider of retail and web payment solutions, has announced that they have processed almost 200,000 contactless transactions in Ireland.
That's an increase of 2389pc since this payment method was launched at the beginning of this year.
The total number of transactions for July was 53,274 against 2,140 in January. The largest spike in use of contactless payments occurred in March 2013, with the number of weekly transactions increasing by 3,000 in that month alone.
It said that 6,000 Sage Pay Ireland customers have installed the contactless machines to date, with the number set to rise further over the coming months as retailers recognise the benefits of this new technology. Here, over 2 million Laser cards have been replaced with Visa Debit contactless cards as the trend continues towards a cashless society.
With an upward limit of E15 per contactless transaction this method of payment is particularly suitable for the convenience store market. It is a handy and time efficient payment method for people to use especially during busy commuter times while the retailers benefit as it helps them to better manage the queues during these busy periods.
Retailers currently using contactless payment systems include Sage Pay partner CBE's grocery and convenience clients: Musgrave, Spar, Centra and Costcutter.
Eric Cooney, Sage Pay said, "In our increasingly fast paced world, it is inevitable that products and services that provide easy solutions to ensure speed and efficiency equally matched with convenience and security are bound to be embraced by both consumers and retailers".