Irish consumers carry €78.2 million in cash in their wallets everyday according to new research conducted by Visa Europe.

On average a typical consumer carries €23 in cash on a daily basis and consumers in Ireland continue to be the highest users of ATM cash (on a per capita basis) with an annual figure of more than double the EU average.

According to Visa Europe research the Irish population currently spends 11.2 million minutes queuing in shops on a daily basis.

The top 3 most common places to queue are convenience stores, petrol stations and fast-food outlets.

The research is to mark the rollout of contactless payment technology in Ireland.

When asked about the benefits of contactless technology almost half of respondents ranked the main benefit of contactless technology as quicker transaction speeds.

37% highlighted the convenience of not having to take cash out of an ATM to make a payment.

While 18% said that the main benefit of the new technology would be not having to spend time looking for cash when making a purchase.

Retailers who have begun to install contactless technology in Ireland include Centra, Spar, Eurospar and Mace.