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Ireland
Ireland, a highly developed country in Western Europe, continues to demonstrate significant economic resilience despite global challenges. The country's economy is diverse, with strong sectors in technology, pharmaceuticals, financial services, and agriculture. Economic growth in Ireland is expected to recover and strengthen, supported by strategic investments and ongoing economic reforms.
Ireland's GDP contracted by 3.2% in 2023 due to weaknesses in multinational-dominated sectors. However, Ireland’s GDP growth is projected at 1.2% in 2024 and 3.6% in 2025, driven by consumer demand recovery, foreign investment, and strong export performance. Modified domestic demand is expected to grow by 1.7% in 2024 and 2.4% in 2025, reflecting underlying domestic economic activity.
Inflation in Ireland is easing, decreasing from 5.2% in 2023 to 1.9% in 2024 and 1.8% in 2025. The labor market remains robust, with unemployment projected at 4.4%. Real wage growth is expected to turn positive, supporting household incomes and consumer spending.
Ireland's fiscal policy remains strong, with a budget surplus of 1.7% of GDP in 2023, slightly declining to 1.3% in 2024. Public debt is projected to fall from 43.7% of GDP to 42.5%. Government spending focuses on infrastructure, healthcare, and education, promoting long-term economic stability and sustainable growth in Ireland.
Top banks
Bank of Ireland
Bank of Ireland – One of Ireland’s largest banks, Bank of Ireland provides comprehensive retail banking, business banking, SME financing, loans, savings accounts, investment services, and digital banking solutions. Known for its customer-focused approach and reliable financial products, Bank of Ireland supports economic growth and financial inclusion across Ireland.
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AIB (Allied Irish Banks)
AIB Ireland – One of Ireland’s leading banks, AIB offers comprehensive retail banking, corporate banking, SME financing, investment services, loans, savings accounts, and digital banking solutions. Known for its customer-focused approach and innovative financial products, AIB supports economic growth and financial inclusion across Ireland.
Ulster Bank
Ulster Bank Ireland – A leading bank in Ireland, Ulster Bank provides comprehensive personal banking, business banking, SME financing, loans, savings accounts, and digital banking services. Known for its customer-focused approach and reliable financial solutions, Ulster Bank supports economic growth and financial inclusion across Ireland.
Permanent TSB
Permanent TSB – One of Ireland’s leading banks, Permanent TSB offers comprehensive personal banking, home loans, savings accounts, current accounts, business banking, and digital banking solutions. Known for its customer-focused approach and innovative financial products, Permanent TSB provides reliable and secure banking services for individuals and businesses across Ireland.
N26
N26 is a leading German digital bank offering fully online banking services across Europe and the US. Known for its mobile-first approach, N26 provides checking accounts, savings tools, personal loans, and insurance with low fees, real-time notifications, and international money transfers. It supports cashless payments, fintech integration, and seamless digital banking, making it a top choice for tech-savvy customers seeking convenient, transparent, and innovative banking solutions. Regulated in multiple regions, N26 ensures secure mobile banking, efficient financial management, and enhanced user experience for personal and business clients.
Top payment methods
Paybybank
At checkout, when you select Pay by Bank as your online payment method, you can securely pay directly from your bank account. Simply choose your bank, which generates a secure payment link to authorize the transaction. Once authorized, you are redirected back to the checkout page. No card details, no account creation, and no personal financial information are shared, making Pay by Bank a safe, fast, and convenient online payment solution.
This digital banking payment solution is offered by PayOp, covering almost all of Europe and competing with top online payment providers in the e-commerce and fintech market.
Visa
Visa is the world’s largest global card network by transaction value, accepted almost everywhere. It’s known for secure, fast, and reliable payments, positioning itself as “the best way to pay and get paid by everyone.”
Mastercard
Mastercard is a global payments leader, dominating the co-branded card market in Europe and key countries like Brazil, Canada, and Germany. Known for secure, contactless, mobile, and digital payment solutions, Mastercard drives e-commerce, fintech, and online banking innovation worldwide.
ApplePay
Google Pay
Google Pay enables secure digital payments using stored credit or debit cards for online, in-app, and in-store purchases. It offers a fast, seamless checkout experience on Android devices and supports 3D Secure authentication for EU and UK-issued cards.
Concluding remarks
Ireland's economy is poised for continued recovery and growth, supported by a diverse payment landscape and robust economic fundamentals. As the country navigates through global economic challenges and embraces technological advancements, its payment methods reflect a blend of traditional and modern approaches, catering to a wide range of consumer preferences.
Cash
While digital payments grow, cash remains widely used in Ireland for small purchases, local markets, and services. Irish consumers value convenience and security, supporting retail cash transactions, contactless cash alternatives, and hybrid offline payment methods.
Cards:
Credit and debit cards dominate Ireland’s retail and eCommerce markets. Irish banks and fintechs provide secure card payment solutions, including contactless, mobile card payments, and online card processing, enhancing consumer convenience and promoting digital financial services.
APM"s:
Ireland’s APM solutions include bank transfers, mobile wallets, and e-invoicing systems. Irish businesses leverage alternative payment options to enhance online checkout, reduce fraud, and meet growing eCommerce payment demands, supporting fintech innovation.
Cryptocurrency:
Cryptocurrencies like Bitcoin, Ethereum, and stablecoins are increasingly used in Ireland. Crypto payments are integrated with merchants and fintech platforms, providing secure digital transactions, blockchain-based payments, and modern eCommerce payment solutions for Irish consumers.
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