Increase in Contactless Payments at Bank of Ireland during Q1 2025, Decrease in ATM Transactions
Bank of Ireland Embraces Digital-First Banking in Q1 2025
In a significant shift towards digital banking, Bank of Ireland has seen a surge in contactless eCommerce transactions and digital wallet payments in Q1 2025. According to the latest data, contactless payments increased by 3% compared to Q1 2024, with contactless ‘tap and go’ payment volumes remaining stable or slightly increasing.
The trend of increasing digital payment usage was particularly evident among Bank of Ireland customers, who showed a clear preference for contactless payments, such as digital wallets like Apple Pay and Google Pay. Over 1.7 million contactless transactions were recorded in a single day, and over 3 million transactions were made on 28 February 2025, the busiest day during Q1 2025.
In contrast, ATM withdrawals fell by approximately 11% over the same period, indicating a shift away from cash usage towards digital transactions. Despite Bank of Ireland's efforts to upgrade ATM machines in its branches, the decline persisted. The busy Easter period not falling in the first quarter of 2025 may have contributed to the decrease in ATM usage.
The shift towards digital payments is not limited to transactions alone. Bank of Ireland has also seen a significant increase in digital banking logins, with over 1.5 million logins recorded on 27 March 2025, the busiest day in Q1 2025 across Bank of Ireland's iOS and Android mobile apps. Logins via the traditional '3 of 6' PIN method fell by 10% in Q1 2025 compared to the same three months in 2024.
Biometric logins to the mobile banking app have also seen a significant increase, rising by 41% in Q1 2025 compared to the same three months in 2024. Over 12 million biometric logins were recorded in total during January, February, and March 2025.
Ciarán Coyle, Group Chief Operating Officer at Bank of Ireland, stated that the bank's continued investment in digital banking services ensures customers can bank with speed and flexibility. Coyle mentioned that while cash remains popular, customers are embracing seamless and secure ways to manage their finances, with a shift towards digital-first banking behaviors.
Bank of Ireland plans to continue providing customers with a full suite of banking options, improving the capabilities of their digital banking channels, and investing in enhanced services across their branch network. The bank's focus on digital banking is reflected in the continued growth in digital banking usage, with digital logins to Bank of Ireland's mobile app increasing by 1% for Q1 2025 compared to Q1 2024.
The broader payment industry is also seeing growing adoption of biometric authentication to improve security without compromising convenience. While there is no specific data from Bank of Ireland on usage trends from Q1 2024 to Q1 2025, it is reasonable to infer that Bank of Ireland may be aligned with this trend, given its digital focus.
In summary, the major trends at Bank of Ireland over Q1 2024 to Q1 2025 show increased contactless and digital wallet payments, a sharp decline in ATM cash withdrawals, and a likely growth in biometric and digital banking logins, reflecting evolving consumer preferences for faster, safer, and more flexible payment and banking options.
Mobile banking and digital banking are areas where Bank of Ireland has seen significant growth in Q1 2025, with over 1.5 million digital banking logins recorded on 27 March 2025, and biometric logins to the mobile banking app increasing by 41% in the same quarter compared to the previous year. Finance and business, particularly in the technology sector, are being influenced by this shift towards faster, safer, and more flexible payment and banking options.
