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There are almost 4.5 million debit cards in use in Ireland

Debit card use is increasing at a much higher rate than credit cards in Ireland.

THERE ARE OVER 5 million debit cards in Ireland as of June this year – but around 685,000 of these are not in active use, according to the Central Bank’s Credit and Debit Card statistics.

The total monthly value of new card transactions increased by 6% for the year to €5.8 billion this June. The total value of debit card transactions, including ATM transactions, were 5.4 times the value of credit-card expenditure.

Debit card transactions at the point of sale (ie, at shops, restaurants, etc) in June 2018 equated to €3.1 billion, an increase of 8% on the same month in 2017.

Credit card spending also increased year-on-year in June – rising by €13.5 million. Growth in debit card retail spending increased by €253 million (or 18%) on an annual basis in June.

In contrast, credit card expenditure rose at a notably slower pace than debit cards in June 2018, increasing by 2% on a year-on-year basis. Spending in the retail, services and social sectors rose by circa 5% on the year.

Overview

Total e-commerce expenditure continued to grow on an annual basis in June, rising by 13% to just over €1.4 billion. Of this, €1 billion and €412 million is attributable to debit cards and credit cards respectively. As a share of total new transactions, e-commerce expenditure has fallen from a peak of 29% in January 2018 to 25% in June.

E-commerce now accounts for 21% of all debit card expenditure and 45% of all credit card purchases.

In total, 77% of credit card spending was split between the retail (39%) and services (38%) sectors in June 2018. In comparison, expenditure in the retail sector accounted for over half (53%) of all debit card ‘point of service’ spending.

Credit and debit card expenditure outside Ireland (when the physical card is present) provides an indication of spending abroad by Irish tourists.

Significant seasonal effect can be seen in the data, particularly for debit cards, with higher expenditures outside Ireland recorded in the summer months compared to the winter months.

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    Mute DaMoons
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    Nov 30th 2019, 7:07 PM

    Again, the media pedal the Government story on average income being 51k. The most accurate statistic includes in the same report showed the median income (which represents 90 percent of the population) being less than 24k per year. A hell of a distance from the 51k figure the Journal and government are spinning.

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    Mute Brian Ó Dálaigh
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    Nov 30th 2019, 7:47 PM

    @DaMoons: while I agree there is a discrepancy, the figure quoted above is household income compared with your figure of individual income. Household income often combines 2 or more individual incomes as it is calculated based on total income divided by number of households, and not individuals.

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    Mute DaMoons
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    Nov 30th 2019, 8:15 PM

    @Brian Ó Dálaigh: Well, 2 incomes from the 90 percent quoted above still wouldn’t reach 51k. So it obviously points to 3rd and 4th earners living in the same household. Would it be a stretch for me to suggest that it is probably down to adult children not being able to afford somewhere to rent? FG were so proud of this statistic this week. Think about it.

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    Mute Brian Ó Dálaigh
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    Nov 30th 2019, 9:00 PM

    @DaMoons: I’d say you’d be pretty bang on the money (no pun intended) with that comment. The slightest bit of analysis into the figures and you’d wonder why Fine Gael would be proud of it. And, remember, these are average figures and not median figures which would far more accurately reflect the reality for the vast majority of people.

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    Mute Manbackonboard
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    Nov 30th 2019, 7:03 PM

    Constantly broke.

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    Mute StillNotNews
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    Nov 30th 2019, 8:00 PM

    @Manbackonboard: Same, Keep the recovery going, For TDs.

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    Mute SC
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    Nov 30th 2019, 7:06 PM

    With an average rent of 24k and childcare for one child 12k, that is just about enough for a small family. It’s not enough for two children.

    And assuming that’s the median, half of households have less. Is it any surprise we have a birth rate below replacement now?

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    Mute Finbarr Barry
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    Nov 30th 2019, 7:20 PM

    @SC: and they are quoting disposable income… I. E income after all expenses such as mortgage/rent, utilities et. Etc are paid…. What a load of BS

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    Mute Finbarr Barry
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    Nov 30th 2019, 7:23 PM

    @Finbarr Barry: https://www.breakingnews.ie/ireland/cso-figures-show-mean-disposable-income-is-now-almost-23000-967144.html

    CSO figures show average disposable income in 2018 was €23,000; 9.6% up on 2017

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    Mute Sos
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    Nov 30th 2019, 7:32 PM

    @Finbarr Barry: disposable income is income after government tax has been paid. Discretionary income is income after bills have been paid. Given the very high cost of living here I would expect that to be a lot less.

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    Mute Peter Hughes
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    Nov 30th 2019, 7:42 PM

    @SC: I’m delighted, we deserve it we keep voting for it……keep the rippoffs going lads there are legions of suckers who are stuffing your pockets full of cash and keep voting for you……dumb is an understatement.

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    Mute SC
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    Dec 1st 2019, 10:24 AM

    @Peter Hughes: the government has no power to interfere with the economy because it goes against EU rules in most situations (we can’t borrow to boost housing stock, we can’t subsidise rural industry to take pressure off the cities and keep our language alive etc) so it doesn’t make a difference who you vote for.

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    Mute keano
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    Dec 1st 2019, 10:37 AM

    @Finbarr Barry: no Finbarr I believe disposable incoming is your Income after Tax. Before Rent, mortgage, heat, light, etc etc. which would make it a lot more realistic figure and nothing to be proud of !

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    Mute Anastasia
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    Nov 30th 2019, 8:06 PM

    Spin spin spin the average wage is 20000 euro for a 38 hour week or am I working in the wrong place

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    Mute DaMoons
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    Nov 30th 2019, 8:36 PM

    @Anastasia: 90 percent of the people working in Ireland earn less than 24,000. This figure from the Government is pure spin.

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    Mute Brian Clancy
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    Nov 30th 2019, 9:06 PM

    @DaMoons: that’s rubbish anyway for a start

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    Mute John fitzpatrick
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    Dec 2nd 2019, 8:57 AM

    @DaMoons: so you are saying 90% are on minimum wage? Or are you saying that a huge portion of people are part time. What are you saying. What ever your saying it’s BS. But go , keep on plugging the SF agenda, 13% of the people believe you.

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    Mute Harry Trafford
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    Nov 30th 2019, 10:36 PM

    I work 50+hours a week. I’ve a wife and 2 kids. Council house and a car loan, I’m sure like alot of other houses. All I see is the weekly shop getting more expensive, insurance through the roof, more taxes. I’m not seeing any recovery around here. I’d dream of have 51k disposable income. I call bs on the whole thing. This ff fg government are a joke and need to be shown that we are done being fed lie after lie and tax after tax.

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    Mute Ro-your-nan
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    Nov 30th 2019, 7:43 PM

    All the poor-mouths on here – every pub in the country always seem rammed with people swallowing their disposable incomes down their fat necks. Drink less Irish-alcos and you might feel a little better off. Now I’m off to the pub

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    Mute SC
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    Dec 1st 2019, 10:26 AM

    @Ro-your-nan: I don’t think spending a few hundred a year on drink and a few hundred on electronics explains why people can’t afford ten thousand for childcare or 24k for rent… And my car insurance has nearly doubled even though I’ve never even had a penalty point so we’ll all be paying another grand for that soon enough.

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    Mute Ro-your-nan
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    Dec 1st 2019, 1:11 PM

    @SC: move out to Wicklow and don’t have a kid and you’ll be grand. Reckon people are dropping easily €10k a year (€200 per week) on booze. Look at all the snowflakes eating / drinking in town but they can’t save for a deposit.

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    Mute CJ Stewart
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    Dec 1st 2019, 10:28 AM

    ..well somebody must have disposed of my 51k without me seeing it !

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    Mute Michelle Keeley
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    Dec 1st 2019, 8:20 AM

    https://www.thejournal.ie/rish-workers-earn-an-average-of-e23-an-hour-4677090-Jun2019/

    According to the CSO, the average full time wage is approx €48000 and average partime €17000.

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    Mute Luap
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    Dec 1st 2019, 9:41 AM

    51k DISPOSABLE income? Hahahaha

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