Over €30 billion worth of contactless payments made in 2025 as cash withdrawals decline – BPFI Payments Monitor
- Contactless payment volumes and values up by 6.8% and 12.6% respectively in 2025, compared to 2024
- Number of cash withdrawals, fell by 7.1% year on year to 82.2 million in 2025, while the value of withdrawals fell by 4.2% to €12.2 billion
Thursday 19th February 2026 – Over 1.6 billion contactless point of sale (POS) payments, valued at over €30 billion, were made in shops, restaurants and other retail outlets in 2025, according to the latest payments analysis* published today in Banking & Payments Federation Ireland’s (BPFI) Payments Monitor. This was an increase of 6.8% and 12.6% in contactless payment volumes and values respectively, compared to 2024. Contactless payments accounted for 88.7% of all POS card payments in 2025 with more than 60% (62.4%) of all contactless payments made using mobile wallets such as Apple Pay or Google Pay, rather than cards. Conversely, the number of cash withdrawals, fell by 7.1% year on year to 82.2 million in 2025, while the value of withdrawals fell by 4.2% to €12.2 billion.
Speaking on the publication of the latest Payments Monitor, Gillian Byrne, Head of Payments, BPFI stated: “Today’s report highlights the continued popularity of contactless payments among Irish consumers, which accounted for almost 90% of all point of sale (POS) card payments made in shops, restaurants and other retail outlets in Ireland last year. Notably, of the 298 contactless payments made per person in Ireland on Irish cards in 2025, 159 were made through mobile wallets, highlighting how smartphones are becoming the preferred payment method over physical cards for many Irish consumers.”
She continued: “On the other hand, while contactless payments activity continues to grow, cash withdrawal activity, including ATMs and cashback in shops, has declined. The number of cash withdrawals using cards fell by 7.1% year on year to 82.2 million in 2025, while the value of those withdrawals fell by 4.2% to €12.2 billion. This trend was reflected across the country with the value of cash withdrawn falling in every county except Donegal, where the value was unchanged. The contrasting trends in contactless payments and cash withdrawals are also evident in the relative value of transactions. For every €1 in cash withdrawn in 2025, €2.46 was spent in contactless payments, up from €1.70 in 2023.”
Noting trends within in-person service sectors in particular, Ms Byrne added: “Cards are increasingly replacing cash as the means of payments for in-person services, such as eating out and drinking (restaurants and bars), personal care (barber and beauty shops) and medical care (including doctors, dentists and opticians). Card spending on these in-person services increased significantly between 2023 and 2025, increasing from €7.4 billion to €8.9 billion and accounting for 18.7% of in-person card payments in 2025.”
“Looking more closely at restaurants as an example, spend in general restaurants and fast-food restaurants grew by 21.9% and 20.7%, respectively, between 2023 and 2025 with a combined value of almost €4.5 billion in 2025. Similarly, European Central Bank surveys indicate that cards and mobile apps accounted for 39% of payments in restaurants in 2024, up from 15% in 2019, while the cash share of payments in restaurants fell from 84% to 57% over the same period.”
She concluded: “While cash will continue to play an important role for consumers, the convenience and security of contactless and mobile wallet payments are likely driving the growth in their adoption among Irish consumers. Whether people opt to pay using card, smartphone, watch or indeed cash, of most importance is that it remains an individual choice and that the payments sector continues to innovate and adapt to the changing preferences of consumers.”
Today’s report is published ahead of the BPFI National Payments Conference on the 5th of March at The Convention Centre Dublin, which will explore further, how the payments landscape is evolving driven by new technologies, regulatory change and the demands of the digital economy.
The BPFI Payments Monitor February 2026 can be downloaded here.
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Notes:
*BPFI analysis based on Central Bank of Ireland data and CSO population estimates.
BPFI: 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 over 120 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace.
Contact: Fiona Murphy, Head of Communications, fiona.murphy@bpfi.ie or Jillian Heffernan, Director of Communications, jillian.heffernan@bpfi.ie.
