3.1 Access and Choice
3.1 Access and Choice
When we buy goods or services in a shop or online, or receive our wages, the how we pay is at times taken for granted. However, payments are vital for the functioning of our society and economy. Different types of payment are designed to meet a variety of needs. Participants in the payments sector should provide for the needs of everyone who makes and receives payments.
Digital technologies are increasingly becoming more embedded in our daily life. These new technologies have increased the payment options available to consumers and have allowed for greater choice as new options are emerging. Within these options, consumers are increasingly choosing digital payment methods over more traditional forms of payments such as cash, cheques, etc. This outcome is in line with the Government’s National Digital Strategy[1] which states that ‘Our goal is to be a digital leader at the heart of European and global digital developments’. The National Digital strategy will further enhance the digitalisation of Irish society, which enables digital payments in two significant ways; improving consumer and households access to high-speed internet (5G and Gigabit network) while and increasing the digital intensity of small and medium enterprises (SMEs). While these two developments do not directly target the payment landscape, they will enhance the convenience and access to digital payments throughout the country via improved connectivity and functionality.
Ensuring that Irish consumers and small businesses have access to a variety of payment methods in line with their Europe peers will be an important focus for the NPS, specifically in instant payments, open banking and new request to pay mechanisms. The Strategy will also look at what can be done to enhance choice in respect of non-card payment options within digital payments.
The NPS will support the evolution of the overall payment system, maintaining ongoing access to a choice of payment methods in line with options available to other European peers. The Strategy will also look at what can be done to enhance choice of non-card payment options within digital payments in this regards. It is critical that the Irish payment system provides citizens with equal access to a range of payment options that meet their needs. Payment services should be accessible on a fair, open and transparent basis, including cash for those who rely on it. Payment services are a critical part of modern life that provide a vital infrastructure to how we live and work.