The Digital Wallet Revolution in Ireland: 2025 Trends & Regulations

In Ireland, digital wallets have quickly become a game-changer, transforming the way people pay and how businesses accept payments. For companies across the country, keeping up with this shift isn’t just a trend, it’s a necessity. As more consumers embrace cashless options, businesses of all sizes must adapt to capture new opportunities and tackle the challenges that come with evolving customer needs.

In 2024, mobile wallet payments saw significant momentum, with over 79.6 million transactions made using Irish cards. By early 2025, adoption had grown even further 72% of Irish consumers having used a digital wallet at least once, and 48% reported using it as their primary method for in-store payments.

As digital wallets expand in Ireland, 2025 brings key regulations focused on security, transparency, and consumer protection, including:

1. Digital Operational Resilience Act (DORA): Coming into effect in January 2025, DORA introduces stringent requirements for financial entities, including digital wallet providers, to strengthen their resilience against ICT-related disruptions. Under DORA, organisations must implement robust risk management frameworks, conduct regular incident simulations, and report major operational disruptions, ensuring continuity and customer trust in the event of technical failure or cyber threats.

2. Markets in Crypto-Assets Regulation (MiCAR): With the growing intersection of digital wallets and crypto-assets, MiCAR was enacted in December 2024 to bring structure and oversight to this space. All crypto-asset service providers (CASPs) in Ireland must now register with the Central Bank and meet new compliance standards aimed at enhancing investor protection, ensuring transparency, and reducing systemic risk. Existing VASPs have until the end of 2025 to comply.

3. Introduction of Mobile Driver’s Licenses (mDLs): In a move to digitise personal identification, Ireland is set to launch mobile driver’s licenses in 2025, which will be integrated into digital wallets. This will allow citizens to carry a secure, verifiable ID on their smartphones, simplifying identity checks for services like car rentals, government services, and age verification at point-of-sale.

4. National Payments Strategy: Launched in 2024, Ireland’s National Payments Strategy provides a forward-looking roadmap for digital finance. It focuses on fostering innovation in payments, supporting broader financial inclusion, and improving cross-border payment efficiency. For digital wallet providers, this presents both opportunity and responsibility to align with national objectives and contribute to a modern, seamless payment infrastructure.

As digital wallets and FinTech innovation continue to reshape Ireland’s financial services landscape, staying informed of emerging trends and regulatory developments is essential for all industry stakeholders.

Join us at the NextGen Payments & RegTech Forum on 19 June 2025 at the Conrad Hotel in Dublin, Ireland.

Explore the future of payments, compliance, and innovation with top industry leaders from Citi, Mastercard, ComplyRadar, BPFI, Payall Payment Systems, Square International Ltd, Paysafe Payment Solutions Ltd, MUFG Investor Services, EPI Company, OFX, Buen Crypto Consulting Ireland, ArriTech, Arthur Cox LLP, Finvisor Fintech Partners, Kraken, HerculesAI, ODDSET Sportwetten GmbH, U.S. Bank Europe, Hatten M&A Advisory, Flotta Consulting Ltd, and many more!

Book now and get 10% off before the offer expires! Contact QUBE Events at info@qubevents.com to claim the discount!

To register and access the agenda: https://bit.ly/3DhAVNj 

For more information on registration, please contact info@qubevents.com 

By: Zinah Abdaki, Head of Marketing