IBF welcomes positive moves on payments
The Irish Banking Federation (IBF) welcomes the government’s decision to halve the payment card stamp duty for combined debit and ATM cards from €10 to €5 and for separate ATM and debit cards from €5 to €2.50. These changes will help to further encourage consumers and businesses to move away from cash and cheques to more efficient, less costly payment mechanisms. IBF also welcomes the Minister for Finance’s stated commitment to preparing and implementing a national payment implementation plan over the next two years.
“These government initiatives represent further progression to up the pace on the move towards electronic payments,” said Pat Farrell, Chief Executive, IBF.
Note to Journalists: Irish Banking Federation (IBF) is the leading representative body for the banking and financial services sector in Ireland, representing over 70 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.