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A major national campaign is being launched by Ireland’s Central Bank to persuade both businesses and the public to use online transactions instead of using cash and cheques.

Ireland is the second biggest user of cheques in Europe, and also uses cash much more frequently than its neighbouring European countries.

“The value of withdrawals from ATMs is 66 per cent higher here than the EU average. Irish businesses are heavy users of cheques with over 50 per cent of those written made payable to businesses.” Independent News, Ireland

It also states that ATM withdrawal is 66% higher in Ireland compared to the EU average.

It is thought that an increase in the use of electronic payments could save the Irish economy €1 billion a year. The Central Bank is currently tendering for advertisement agencies to fulfil the marketing drive, with a budget of €1 million.

A large portion of the expected changes is targeted at users of the social welfare system, particularly the collection of children’s allowance, disability payments and benefits. 87 million payments are made to customers each year according to the Department of Social Welfare, but only 42% is paid electronically. The remainder is paid either by cheque or through the Post Office.

The tender for advertising agencies closes on 5 March 2014, and the winning tender is expected to be announced during April 2014.

Source: Independent News, Ireland