Business
Bank of Ireland contactless payments surge to record levels
DCM Editorial Summary: This story has been independently rewritten and summarised for DCM readers to highlight key developments relevant to the region. Original reporting by Irish Times, click this post to read the original article.
Bank of Ireland contactless payments surged to record levels during the final quarter of 2025, according to an analysis of customer transactions.
Contactless card transactions, which cover digital wallets, Apple Pay and Google Pay, increased by 10 per cent year-on-year, whilst contactless tap and go payment levels rose by 4 per cent.
More than 1.1 million contactless card transactions were recorded on November 28th, which was a single day record for Bank of Ireland customers.
Another 2 million contactless tap and go payments took place on December 23rd, which set a new all-time peak for such payments as people rushed to complete their Christmas shopping.
Bank of Ireland introduced SEPA Instant last year, allowing personal and business customers to make a euro payment within 10 seconds, 24 hours a day, to any European bank.
Bank of Ireland said ongoing investment in digital platforms enabled faster lending for small business and agri customers. “They can apply for a loan and access funds in as little as 24 hours,” it said.
“The use of artificial intelligence (AI) has helped protect customers from fraud – scam detection technology using AI and machine learning assessed 1 billion card transactions for potential fraud and prevented €9.7 million in losses in 2025.”
Further technology improvements will launch in 2026, including Zippay, which deals with mobile-to-mobile payments, and the bank’s new mobile banking app.
Bank of Ireland chief operating officer Ciarán Coyle said: “We made considerable progress in delivering technology enhancements throughout 2025, providing greater stability and resilience and a smoother, more secure customer experience.
“We will continue this focus and momentum, with the rollout of our new mobile app, and other improvements including the launch of Zippay mobile-to-mobile payments.
“Later this year we will launch our new strategy, where we will outline further investments in our digital platforms, providing colleagues with the best technology to serve our customers brilliantly.”
