Increase in Contactless Payments at Bank of Ireland during Q1 of 2025, Drop in ATM Transactions during the Same Period
Bank of Ireland Embraces Digital-First Banking Trend
Bank of Ireland witnessed a significant surge in contactless payments and digital banking usage during Q1 2025, reflecting a broader fintech growth trend in Ireland and globally.
According to Ciarán Coyle, Group Chief Operating Officer at Bank of Ireland, customers are embracing seamless and secure ways to manage their finances, with a shift towards digital-first banking behaviours. This shift is evident in the bank's Q1 2025 figures.
Contactless eCommerce transactions increased by 3% compared to Q1 2024, while 'tap and go' payments rose 1% during the same period. The busy Easter period did not fall in the first quarter of 2025, contributing to the decrease in ATM usage, with a 11% drop in ATM transactions compared to Q1 2024.
On the other hand, digital logins to Bank of Ireland's Mobile app increased by 1%, and biometric logins surged in popularity by 41%. The busiest day during Q1 2025 was on 28 February, when over 3 million contactless and 'tap and go' payments were made. On Thursday, 27 March 2025, over 1.5 million digital banking logins were recorded, making it the busiest day in Q1 2025.
Coyle emphasised that the bank's continued investment in digital banking services ensures customers can bank with speed and flexibility. He also assured that Bank of Ireland will continue to provide a full suite of banking options, continuously improving the capabilities of digital banking channels, and investing in enhanced services across the branch network.
The growth in digital banking at Bank of Ireland aligns with regional fintech growth patterns, as shown by strong year-on-year increases in similar European payment contexts. Ireland’s fintech sector attracted $668 million in venture capital in Q1 2025, a dramatic rise from $34 million in the same period in 2024.
This surge supports innovations in embedded finance, regtech, digital identity, and payments, indicating that banks like Bank of Ireland benefit from and contribute to this digital ecosystem expansion. Ireland’s government initiatives and European regulatory alignment also foster fintech and digital banking adoption, allowing traditional banks to scale digital services efficiently.
Future trends include increased integration of embedded financial services and scalable fintech-as-a-service models, expansion of e-wallets, digital wallets, and contactless technologies in daily banking and commerce, and adoption of cloud-native modular banking platforms for faster innovation and regulatory compliance.
As traditional banking adapts to this digital shift, customer behaviour, revenue models, competition, operational strategy, and regulatory compliance are all areas that will experience significant changes. Banks will need to focus on enhancing digital platforms and user experiences, evolving fee structures, partnering with fintechs, investing in scalable, cloud-based core banking systems, and adapting to evolving digital payment regulations and data privacy laws to maintain customer trust and market access.
In conclusion, Bank of Ireland’s increased digital payments adoption in Q1 2025 signals robust momentum towards a less branch-centric, more technology-driven banking future, with traditional banks adapting to remain competitive amid expanding fintech ecosystems and changing consumer preferences.
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