The Republic of Ireland, which once had an economy called the Celtic Tiger because of its rapid growth, is prominent in the international payment space. Global tech firms and financial service providers have established European headquarters in Ireland, taking advantage of its favorable tax policies. Ireland also benefits from its membership in the EU, which facilitates trade with other European countries.

Despite its modest size, Ireland has an importance in global finance—especially in the fintech sector—that is difficult to overstate.

Below, we’ll help businesses examine the important elements of operating successfully in Ireland, including:

• Accepting diverse payment options
  
• Providing strong security
  
• Enhancing the customer experience
  

The state of the market

Dublin, the capital of Ireland, hosts the European headquarters of many international tech businesses and startups. Ireland has a close financial relationship with the UK in large part because of its shared border with Northern Ireland. Ulster Bank, a subsidiary of NatWest Group, caters to Northern Ireland and the Republic of Ireland.

The official currency of Ireland is the euro, and the Central Bank of Ireland oversees the country’s monetary affairs and financial stability. The bank plays a dual role as the national monetary authority and the local regulator for financial institutions. Beyond domestic regulations, the European Central Bank (ECB) also wields influence, given Ireland’s membership in the euro area.

As part of the EU, Ireland benefits from regulations such as the revised Payment Services Directive (PSD2) and the Single Euro Payments Area (SEPA). These facilitate cross-border transactions within the euro area, simplifying them for businesses and customers. About 91% of electronic money payments in the first half of 2025 were international, according to data from the Central Bank of Ireland.

Payment methods

Multiple payment methods have traction in Ireland, including more traditional methods such as banknotes and coins. However, like many of its peer economies in Europe, the Irish economy is swiftly adopting more technologically advanced—and convenient—payment options.

Usage

The affinity for cash has remained strong in Ireland, especially among older demographics and in rural areas. An ECB report found that 59% of point-of-sale (POS) transactions in Ireland were made with cash in 2022.

Credit cards also are used widely in Ireland. From urban centers to small towns, most businesses accept card payments. Data from the Central Bank of Ireland shows that more than 66% of all noncash transactions in the first half of 2025 were made with cards.

Popular B2C payment methods in Ireland

• Cash
  
• Credit cards
  
• Debit cards
  
• Digital wallets (including proprietary versions built into banking apps such as N26 and Revolut)
  

Popular B2B payment methods in Ireland

• Bank transfers
  
• Invoicing
  
• Credit cards
  

Trends

The rise of contactless payments in Ireland is the primary trend businesses should be aware of. A report from the Banking & Payments Federation Ireland (BPFI) showed 3 million contactless payments were made per day in the first quarter of 2023—in a country of 5 million people. That’s nearly 18% higher compared with the same period the previous year, reflecting the population’s quick adoption of this payment technology. According to 2023 data from the Central Bank of Ireland, contactless cards accounted for 84% of all POS card transactions. Subsequent BPFI data showed the increase in contactless payments outpacing the growth of card payments at the beginning of 2023, emphasizing Irish customers’ sustained preference for this payment method.

Beyond physical cards’ contactless capabilities, data shows that Irish customers also favor mobile wallets: a study from the Central Bank of Ireland found that mobile wallet card payments made up 32% of all card transactions at a POS terminal in the first half of 2023.

Ease and friction of entry

There are several factors that businesses should consider when it comes to entering Ireland. Here’s what you need to know about taxes, disputes, international payments, and security in the Irish payment space:

Taxes

Commercial enterprises operating in Ireland must collect value-added tax (VAT) on the goods and services they sell. Though there are several VAT rates depending on the goods or services provided, the standard rate is 23%. Customers pay this tax, which is usually included in the for-sale price, but businesses must collect and accurately remit this tax to the Revenue Commissioners. Businesses can register to do so through Ireland’s Revenue Online Service.

Chargebacks and disputes

Chargebacks, a way customers dispute transactions, can present challenges for businesses operating in Ireland just as they do in most other countries. The Financial Services and Pensions Ombudsman (FSPO) addresses complaints against regulated financial service providers, prioritizing consumer protection and confidence in Ireland’s financial sector.

In Ireland, as in many other European countries, banks have voluntary chargeback procedures in various card operating contracts, according to the European Consumer Centres Network. For example, Visa’s and Mastercard’s agreements allow chargebacks for nondelivery and lack of conformity. However, those procedures are not often publicized. The period when customers can file a chargeback depends on each card’s agreement but tends to be 120–180 days. Once a financial services business has informed the business of a customer’s chargeback request, the business has 14 days to respond; if it doesn’t, the refund is automatically granted.

International payments

Ireland’s economy is deeply intertwined with those of other nations, especially its European neighbors, and other countries with booming tech industries (e.g., Singapore, the US, parts of Scandinavia). Consequently, Irish businesses frequently need to accept—or send—payments internationally. Here are some factors to remember:

• SEPA transfers: As a member of the EU, Ireland belongs to the SEPA zone, which includes 41 countries. This enables quick credit transfers throughout Europe.

• Currency conversion: Currency conversion has become a routine financial process in Ireland because of the country’s active role in global trade, tourism, and the European single market. Ireland, as part of the euro area, benefits from a common currency for its transactions within Europe. Yet its strong business ties to the UK, US, and other global economies necessitate frequent currency conversions.

• The UK (and Brexit): The UK is one of Ireland’s largest trading partners, and because it uses a different currency (the pound), transactions between the countries require currency conversion. Additionally, the UK’s departure from the EU complicates cross-border payments, which might face delays, additional regulatory scrutiny, and increased costs.

Security and privacy

Ireland is home to and partner to many multinational businesses, making data protection a priority.

• Data protection laws: Ireland’s Data Protection Commission enforces the EU’s General Data Protection Regulation (GDPR). The GDPR provides stringent guidelines on how customer data should be handled, requiring explicit consent for collection and the right for individuals to access, rectify, and erase their data.

• Consumer protection: The Competition and Consumer Protection Commission (CCPC) champions customer rights in Ireland. For financial services, the CCPC requires transparent pricing, honest advertising, and the right to redress, ensuring institutions treat certain customers fairly.

• Regulations: The Central Bank of Ireland plays an important role in regulating and overseeing payment systems, including payment, electronic money, and credit institutions. This regulatory body confirms that these systems operate in compliance with PSD2, an EU regulation that sets rules and standards for service providers.

• Strong Customer Authentication (SCA): Following the guidelines of PSD2, Ireland has adopted SCA practices for electronic transactions. SCA requires at least two authentication methods from something the user knows (such as a password), something they possess (a phone or card), or something inherent to them (fingerprint or facial recognition).

• Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF): The Criminal Justice (Money Laundering and Terrorist Financing) Acts 2010 to 2021 set the legislative framework for preventing money laundering and terrorist financing in Ireland. Financial institutions must implement strict due diligence processes, including the reporting of suspicious transactions to the Financial Intelligence Unit of the Garda National Economic Crime Bureau.

• Local payment systems: Ireland has several mechanisms, such as the Irish Retail Electronic Payments Clearing Company (IRECC), that handle different kinds of financial transactions. These have the protection of risk mitigation measures and operate under the oversight of the Central Bank of Ireland.

• Data breach protocols: In the event of a data breach, particularly concerning financial data, organizations are required to report the breach to the Data Protection Commission within 72 hours. If the breach poses a risk to individual rights and freedoms, organizations must notify the affected individuals.

• Future regulatory changes: Amendments to the GDPR and anti-crime laws are under continual discussion, requiring businesses to stay up-to-date and adapt their compliance measures accordingly.

Key success factors

The Irish payment space is stable, but like any complex system, it presents challenges. Here’s what businesses should remember when shaping a payment strategy for Ireland:

• Varied payment methods: Irish customers and businesses have a wide range of payment preferences for a variety of reasons—including convenience, security, and familiarity. Ensure your business is equipped to accept payments in many forms, including cash, debit and credit cards, bank transfers, and digital wallets. If you conduct in-person transactions regularly, offering a contactless option can help you keep up with contemporary payment trends.

• Digital adoption pace: Mobile payments in Ireland lag other payment methods. According to data from the Central Bank of Ireland, mobile wallet card payments made up about one-third of POS card transactions in the first half of 2023. This reluctance could stem from concerns over security or could be because of habit. But businesses should still have two payment infrastructures: one for digital transactions and one for traditional methods.

• International capabilities: Ireland is part of the SEPA zone, which simplifies transactions across European countries, but challenges remain for businesses accepting transactions from other countries. Varying regulations, different transaction fees, and fluctuating exchange rates contribute to the complexity and cost of international transactions. Partnering with a trusted third-party payment processor to accept international payments can help simplify these payments for your business and customers.

• Brexit considerations: Trade data from the Central Statistics Office reveals that in 2021, the UK accounted for 11% of Ireland’s total exports and 19% of its imports. Brexit has complicated this trading relationship by presenting potential challenges for payments, especially concerning tariffs, VAT, and regulatory discrepancies.

• Solid security: It’s imperative to comply with the privacy and data regulations in Ireland, whether they’re national policies or EU decisions. Though these precautions might require initial up-front investment—as well as maintenance, checkups, and updates to guarantee ongoing compliance—they can protect your data and that of your customers. This level of security can increase customer confidence and make regulatory checks a straightforward process.

Key takeaways

As discussed, the Irish payment space is nuanced. Businesses that want to enter this market should be aware of local preferences, be able to keep up with emerging trends, and prioritize transparency and security to offer an improved payment experience to their customers. Consider these factors as you create and execute your business plan for Ireland:

Accept diverse payment methods

• Cater to Irish-specific options: Many Irish customers still have a strong affinity for local banking institutions such as the Bank of Ireland or Allied Irish Banks (AIB). Customizing payment gateways to recognize these banks can make the payment process more intuitive for a large segment of the population.

• Know your customer segments, and give them what they want: Offer invoice options for B2B transactions or installment plans for larger purchases. Consider buy now, pay later (BNPL) providers to follow this growing trend.

• Adapt to contactless trends: Given the increasing adoption rate of contactless payments in Ireland, businesses benefit from offering contactless payment solutions.

Provide strong security

• Prioritize data protection: Adhere to the EU’s strong data privacy regulations such as the GDPR. Implement secure payment gateways, ensure Payment Card Industry (PCI) compliance, and communicate your data security practices transparently.

• Mitigate fraud risk: Use fraud detection tools, employ 3D Secure authentication for online transactions, and provide clear reporting channels for suspicious activity.

• Invest in transaction security: With cyber threats becoming more advanced, payment security is about being compliant and gaining customer trust. SCA, a requirement under PSD2, meets regulatory demands and can assure customers of safety.

Enhance the customer experience

• Use the SEPA advantage: As part of the SEPA zone, Irish businesses can simplify euro-denominated transactions. SEPA-compliant solutions can ease cross-border payments, making the process efficient for businesses and customers.

• Integrate with popular digital wallets: Though the global giants such as Apple Pay and Google Pay have a major presence in Ireland, Revolut and Wise are also popular. Businesses that readily accept digital wallets can better provide friction-free payments.

• Provide multilingual support: Though the population speaks English predominantly, Ireland also has many Irish Gaelic speakers. Offering payment interfaces in both languages shows cultural inclusivity, potentially enhancing the user experience.