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BPFI Payments Monitor – Contactless Update May 2021

Over 2.2 million contactless payments made per day in May – highest daily level recorded

7th July 2021 – The latest contactless payments figures published today by Banking & Payments Federation Ireland (BPFI) show that some 2.2 million contactless payments were made per day in May 2021, the highest daily level since BPFI’s contactless data series began in 2016.

Commenting on the key figures and trends, Brian Hayes, Chief Executive BPFI, said: “In May we saw a total of 67.2 million contactless payment made over the course of the month worth over €1,078 million. At 2.2 million payments per day this is the highest daily level recorded since BPFI began gathering this data in 2016.”

“The figures also show a jump of 73% in the monthly volumes of contactless payments year on year with the value of rising by 82% to almost €1.1 billion during the same period. Additionally the average payment value exceeded €16 for only the second time since the data series began at €16.04.”

The increase we have seen in contactless spending during the course of May likely reflects the easing of Covid-related restrictions on many businesses, including retail and personal services, during this period. This is supported by daily data from the Central Bank of Ireland which indicates that in-store card spending grew strongly in May,” Mr Hayes concluded.

Data Series

The BPFI Contactless quarterly report data series since 2016 and contactless monthly for 2020 is available to download here in excel format.

ENDS/

Contact: Jillian Heffernan, Head of Communications, 087 9016880 or jillian.heffernan@bpfi.ie

Notes: Banking & Payments Federation Ireland (BPFI) represents the banking, payments and fintech sector in Ireland.  Together with its affiliates, the Federation of International Banks in Ireland, and the Fintech & Payments Association of Ireland, BPFI has some 100 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.

The BPFI Payments Monitor Contactless Update May 2021 is available for download below in PDF format.

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