BearingPoint Study Reveals 48% of Irish Consumers Will Use Digital Currency for Online Shopping
Dublin, 24 February 2025 – While cash remains the most frequently used payment method in Ireland, a new study by management and technology consultancy BearingPoint reveals a significant shift towards digital payment solutions. The latest BearingPoint European Payment Study, which surveyed over 10,000 consumers across nine countries, including Ireland, indicates that nearly a quarter (24%) of Irish consumers are prepared to adopt the digital euro upon its introduction, with multiple transactions expected per week.
Ireland Leads in Digital Euro Adoption for Online Shopping
The study highlights Ireland’s strong inclination towards digital currency, particularly for online shopping. 48% of Irish respondents identified online purchases as their primary use case for the digital euro, exceeding the European average (37%) and outpacing countries like Germany (38%).
Despite this digital shift, cash remains a dominant force in Ireland, mirroring trends in German-speaking countries. However, a gradual decline in cash usage is evident, dropping from 61% in 2023 to 59% in 2024. This shift signals an opportunity for digital currencies like the digital euro to gain traction in everyday transactions.
Digital Euro Awareness and Usage Trends Across Europe
The survey shows a continent-wide decline in cash usage, with almost all surveyed countries reporting reduced reliance on cash compared to the previous year. Awareness of the digital euro is rising, with Ireland seeing a 3% increase since 2023. On average, only one in three European respondents had never heard of the digital euro, reflecting growing interest in central bank digital currencies (CBDCs) as complementary payment methods.
Notably, trust in banks to handle digital euro transactions remains significantly higher than trust in technology companies. 55% of respondents expressed confidence in banks’ ability to manage digital euro transaction data, compared to just 5% for technology companies like Apple, Google, and Amazon.
The survey shows increasing engagement with the digital euro, particularly in Ireland, where online transactions are the primary driver of adoption. While cash remains significant, Irish consumers are clearly looking ahead to the future of digital payments. The banking sector is well-positioned to leverage this shift, as trust in banks for handling digital euro transactions remains high.
Martin Deere, Head of Finance and Risk, BearingPoint Ireland
Cash-Heavy Countries More Likely to Use Digital Euro Frequently
On average, one in three Europeans would use the digital euro, with one in five ready to use it multiple times per week. The study suggests that countries with higher cash usage are more inclined towards frequent digital euro transactions.
Key Usage Scenarios: Online Shopping and In-Store Payments
As in previous years, online shopping remains the preferred use case for the digital euro, with an average of 37% across all surveyed countries. Ireland leads the way at 48%, followed by Austria (42%) and Germany (38%). In-store shopping ranks as the second most significant use case, with an average of 28% across countries. In Ireland, 38% of respondents indicated they would use the digital euro for in-store transactions, while 36% identified peer-to-peer money transfers as a key use case.
Factors Driving Digital Euro Adoption
The criteria for adopting the digital euro have remained consistent. The most important factors cited by respondents are that it is free of charge (43%) and accepted everywhere (37%).
About the Survey
The data is based on an online survey conducted between 19 November and 1 December 2024, with 10,222 participants across Austria (1,025), Switzerland (1,026), Germany (2,019), Denmark (1,037), Finland (1,026), France (1,028), Ireland (1,028), the Netherlands (1,027), and Sweden (1,006). The survey was designed by BearingPoint and executed by market research firm YouGov. The results were weighted and are representative of the respective populations aged 18 and over. BearingPoint has been tracking payment trends in the GSA region since 2019 and expanded the panel in this study to include two additional European countries.
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Martin Deere Ireland