May’s card spend figure was 15% up on the April figure (€470.7m). Total social spending by credit and debit card increased by 13% in May compared to April.
When compared to the previous year, social spending increased by 85%, or €385 million. This was largely driven by an increase in restaurant spend.
Total card spend, including ATM transactions of €1.2 billion, increased by 12% to €8.5 billion in May 2022 compared to April. This represents the highest value in spending since this statistical collection began, which was predominantly driven by a monthly increase of €668 million within debit card PoS spending to total €6.2 billion, states the Central Bank.
Overall card expenditure was 25%, or €1.7 billion, higher in May 2022 compared to May 2021, when Covid-related restrictions limited in-person spend.