The Irish Payments Services Organisation (IPOS) announced during the week that the popularity of the Debit card is growing and for the first time ever there are twice as many Debit cards as Credit cards.
This reflects the fact that people are more interested in paying down their debt then getting out there shopping with money they don't have!
Two Debit card types are available in Ireland. Laser cards are supported by BOI/AIB/NIB and the relatively new Visa Debit card has been picked up by Ulster Bank/PTSB. Expect Laser to be phased out over the next three years or so as Visa Debit is far more widely acceptable online/overseas.
As you can only spend what you have in your current account with debit card, this is a form of self imposed austerity that is being practised by the masses....perhaps as penance for our credit card sins during the 'Tiger era'.
FS
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