Oireachtas Joint and Select Committees
Wednesday, 12 July 2023
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Authorised Push Payment Fraud: Central Bank of Ireland
Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source
All European countries operate instant payments. Is that correct? Here it is only Barclays Bank that operates it and it is for corporate customers and users of prepaid cards from Prepaid Financial Services, PFS. In other countries the percentage of instant payments as a ratio of SEPA payments is as high as 100%, in the case of Slovenia. In Austria it is 64%, in Finland it is 63%, in Estonia it is 60%, and in Latvia it is 56%. We are at the bottom of the pile. We are the fifth-worst country. It is 7% and that is only corporate.
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