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Groundswell in cashless payment options driving change and opportunities for merchants

BOI Payment Acceptance’s Marketing Director, Barry Gray recently spoke with The Bottom Line. He gives his insights into BOIPA’s recent survey results on consumers’ attitude towards payments and merchants’ business outlook.

You can listen to the full interview here.

Surveys’ Key Findings

  • Irish shoppers are more likely to choose electronic methods of payment with 63% of shoppers preferring to use cashless payments when shopping in-store, higher than other countries surveyed.
  • The popularity of paying through wearable devices continues to rise with almost two thirds of Irish people surveyed having used mobile wallets to make in-store payments.
  • Irish people perceive businesses where cashless payments are available as more modern and customer-centric.
  • Irish people are using internet and mobile banking more than people in other countries.
  • Most Irish businesses have not seen a reversion back to cash payments after restrictions lifted.
  • Almost two third of BOIPA merchants believe the general transition from cash to cashless payments have benefited their business
  • Irish businesses divided on whether they will become cashless in the next decade with Dublin (55%) and Galway (51%) businesses ahead of the trend and Donegal businesses an outlier (36%) to the national average of 47%.

About BOI Payment Acceptance (BOIPA)

BOI Payment Acceptance (BOIPA) is a marketing alliance between the Bank of Ireland and EVO Payments Inc. It brings together that Bank of Ireland’s understanding of what Irish businesses need and EVO’s expertise in creating innovative payment solutions.

About EVO Payments

EVO Payments, Inc. (NASDAQ: EVOP) is a leading payment technology and services provider. EVO offers an array of innovative, reliable, and secure payment solutions to merchants ranging from small and mid-size enterprises to multinational companies and organizations across the globe. As a fully integrated merchant acquirer and payment processor in over 50 markets and 150 currencies worldwide, EVO provides competitive solutions that promote business growth, increase customer loyalty, and enhance data security in the international markets it serves.