Card payments up 4.6% to €6.4 billion in October

New figures from the Central Bank show that the total value of domestic card payments increased by 4.6% from September to October to reach a total of €6.4 billion.

The Central Bank noted that the total value of domestic contactless card payments grew by 6.9% to hit €2 billion, while the total value of domestic mobile wallet payments peaked at €1 billion after an 8.4% increase from September to October.

The figures show that domestic cash withdrawals stood at €1 billion in October unchanged in the last few months and down by 8.2% compared to May of this year.

A total of 7.67 million domestic cash withdrawal transactions were performed in October, a 3.3% increase on September.

The country-average of cash withdrawal amount was €139.19 per transaction, showing slight variance across the counties, the Central Bank noted.

Today’s figures show that the value of remote card payments – payments made over the internet or mobile phone apps – peaked at €3.7 billion after a 3.9% increase from September to October.

Meanwhile, the value of non-remote card payments – point of sale payments with a card-based payment instrument at a physical payment terminal – grew by 5.2% to reach a total of €4.2 billion.

The Central Bank said the value of domestic card expenditure in the retail sector (including hardware, office equipment, electrical goods, groceries and perishable goods, clothing, consumer durables and automotive spending) grew by 7.3% to hit €3.1 billion.

It noted that all retail components except office equipment contributed to this growth.

The biggest increases included spending on clothing – which jumped by 17.5% – and a 6% increase in groceries/perishables, which makes up almost half of the retail spending.

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