With all the changes happening to our money, it seems clear that cash is no longer king and while it is not dead yet it’s crown has definitely been thieved by the virtual upstarts.
According to recent data from the Banking and Payments Federation of Ireland more than 1.6 billion contactless point of sale (POS) payments, valued at €28.3 billion, were made in shops, restaurants and other retail outlets in the 12 months to June 2025.
All told, less than half of POS payments in Ireland were made in cash in 2024, according to European Central Bank (ECB) survey data, down from about 54 per cent two years earlier.
That is not to say a cashless future is inevitable and we have seen some moves to protect cash.
RM Block
We now have a law which obliges banks to provide ATMs in certain areas, guaranteeing access to cash infrastructure, particularly in rural areas, The Finance (Provision of Access to Cash Infrastructure) Bill was passed in the wake of concerns that increasing numbers of ATMs were being removed following a decline in cash usage.
The legislation was prompted by a recommendation made by the Department of Finance’s Retail Banking Review, published in November 2022, which highlighted the importance of cash to prevent people from suffering financial exclusion. The review also stated that cash is needed as a safety blanket in case of power cuts or cyberattacks that affect electronic payment.
Last week, we asked X users if they used cash regularly and if they valued its role.
Responses were mixed.
I mostly use cash for paying the lad who cuts the grass or personal trainer, and the odd flutter on a horse. Everything else – a pint, coffee, shopping – goes on Revolut. I’ll miss the feel of a few notes, though. Enda Cullen
I haven’t used it in years tbh …and I’ll be delighted when I don’t have to go begging for a coin to put in a supermarket trolley. Johnny Fallon
I have probably used cash ten times in the last month. That is not including tips – I feel that all sorts of service providers: waiters, bar staff, hairdressers, etc are losing out, and I try to always have a supply of cash for that purpose. Ann Lane
I just made a taxi driver very happy by handing over a wad of cash, it’s the little things. Bernadette Fallon
I use physical money every day. If I leave a tip it’s always cash. If I give to people living rough its always cash. Same with donating to buskers. If I’m in a pub I always pay with cash. Cash is very important. Rory Cowan
I make my children use physical money so they realise what they are spending. They are still primary school age and they learned to budget etc, over the summer as they both had a starting cash balance to last them till holidays were over. Great lessons learned. Marie Gleeson
I consciously use cash as much as possible. Cash is king and we need to keep it in society. Also too many bank charges with cards so use my Revolut when I need to tap. Mainly use the card for online shopping for the big grocery shop. Louise Higgins
My barber is the only time I use cash. Local Chinese also only uses cash but I stopped using them mainly because they don’t have a card machine. Only used physical cash in the last month other than my barber while I was in Albania and Kosovo. Shane McCauliff
I always carry cash. It’s great to have cash when there are problems at POS points. Living in the country with power outages due to storms and problems with connectivity, cash is important. It’s also good for giving the grandkids. They realise value much quicker with cash. Michael O’Connaí
I have children in primary school and they need €3 for some activities and €15 for others ... We have the Halloween disco coming up and we’ll have to have money for the school raffle. Cash is necessary, but becoming less accessible. Fiona McCauliffe
I have started using cash as often as possible as I dread the thoughts of all money being digital. I really think that all digital money is a very bad thing. Paula Fegan
I’ve not used physical money since prior to Covid, March 2020. So used to contactless (though I put a £100 limit on it) I just try to help out a few of the smaller shops with an extra £2 on the transaction since they get hit with a charge for having contactless (eg Barbers). Owen Pavey
