No longer coining it: The rise and rise of tech payments

From device-based payments and app-happy neobank users to controversial plans to limit bank cash services, there can be no doubt that payments have been revolutionised by tech – but is Ireland now a leader or a laggard when it comes to digital money?

Payment for services have seen a jump, with a recorded year-on-year increase of 39 per cent, which the CSO noted was driven by spending on transport and accommodation. Picture: Getty

They say that cash is king, but recent developments suggest there is a pretender to the crown. Driven as much by the Covid-19 pandemic as by new technologies such as digital wallets, cashless payment is fast becoming the norm, representing one side of the global shift toward e-commerce, mobile commerce, omnichannel and online payments. With the technology now in place and ever more people using digital devices to pay for things, contactless commerce has changed ...