The total quarterly value of all card transactions (including ATM transactions) increased by 8% in year-on-year terms to €18.9 billion in Q2 2019, according to statistics from the Central Bank of Ireland.
Central Bank released its Credit and Debit Card Statistics – Q2 2019 report, which found that almost €19 billion was spent in the three month period. During the quarter, debit cards were used in 272 million individual PoS transactions, compared to just 38 million transactions through credit cards.
Debit card PoS spending rose by 10% in year-on-year terms in June 2019, to nearly €3.5 billion.
Credit card spending experienced flat growth, with a minor increase of 1% to €915 million.
Debit card transactions in the retail sector increased by 5%, or €76 million, while credit card transactions in the retail sector fell by 2%, or €7,000.
Total e-commerce expenditure increased on an annual basis in June 2019, rising by 15% to €1.7 billion.
Of this, €1.2 billion and €434 million is attributable to debit and credit cards respectively.
E-commerce accounted for 24% of all debit card expenditure, and 47% of all credit card spending in June 2019.
© 2019 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click sign-up to subscribe to Checkout.