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Card issuers are increasingly adopting new technology to offer convenient services

 



(EuropeNewsWire.Net, November 28, 2018 ) The banking sector transformed and adopted new technologies during the review period, which helped enhance customer experience by simplifying and speeding up many banking activities. Allied Irish Banks (AIB) took a vital step via its Learn about Banking (LAB) store. LAB is a high-street learning and research store which enables customers to understand the benefits of new banking technology. It collects feedback from users to understand their preferences and improve the service.     

Browse For Full Report @ https://marketdataforecast.com/market-reports/Ireland-cards-and-payments-market-6928/

Rising popularity of mobile money as a payment instrument

Mobile money is emerging as a popular alternative payment instrument in Ireland. Many banks offer the service, which only requires a recipient’s mobile number to enable a funds transfer. Ulster Bank added the Pay Your Contacts function to its service portfolio in October 2013. Pay Your Contacts is a smartphone app that saves the users financial details once during installation. Via the app, users can send money to anyone in their contact list, provided the recipient also has the app. Similarly, Permanent TSB introduced a MobileMoney service in June 2014, and AIB launched its Me2U mobile money app in January, 2014

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Growth of e-commerce

The value of e-commerce in Ireland increased at a review-period CAGR of 26.01%, driven by a rise in both mobile and internet penetration. The key driver is primarily the retail sector; however travel websites also recorded high growth rates during review period. The leading online or e-commerce websites in Ireland are Linwoods Health Foods, James Whelan Butchers and McElhinney’s Ballybofey Donegal. Globally popular e-commerce sites such as eBay, Apple, Zynga.com, and Amazon also received high volumes of traffic. The value of e-commerce is expected to record a forecast-period CAGR of 13.56%, which in turn add to the growth of cards & payments industry.

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