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Visa spend hits e15.5bn

IRISH consumers expenditure on Visa cards rose to a record €15.5bn -- a 17pc increase on 2011 expenditure as more retailers offer contactless payments.

Every €1 in €7 of consumer spending in Ireland is now on a Visa card, according to research.

Visa Europe announced its annual results and said there was a 43pc increase in the number of cards -- debit, credit and prepaid -- in Ireland. There are now approximately 4.9 million Visa cards in the country.

In addition, there was a 26pc increase in the number of transactions during the course of 2012, with 201 million transactions taking place during the twelve month period.