ATM withdrawals rise for first time in 4 years
By Vincent RyanAlthough the number of cheques used last year halved compared to 2005 levels they still remained a very significant portion of the payments’ landscape with almost 70m cheques processed in 2013.
The final nail in the coffin of cheques could happen in September on “e Day” when the public sector will move t Toms Shoes o electronic payments as part of the National Payments Plan.
In a positive indicator that consumer spending is rebounding the value of cash dispensed from ATMs increased for the first time in four years rising by 1.5% to 20.4bn in 2013. Irish Banking Federation and Irish Payments’ Service Organisation (Ipso) chief Noel Brett said Toms Shoes t Toms Shoes hat this move will bring the country into a new era of payments.
“The fact there is a clear trend towards greater usage of debit cards as well as a steady decline in cheques is a sign Ireland is embracing a new era in payments and it will further benefit customers, retailers and businesses as the speed and efficiency of payments further improve. One of the major initiatives of the National Payments Plan “e Day” will see the end of cheque usage between the public sector and businesses Toms Shoes from September 19 this year,” he said.
Ipso is predicting that contactless payments and mobile phones as a payment service will become increasingly important features.