Irish businesses are divided on the possibility of going cashless within a decade, with more than half of Dublin firms believing it is a real possibility, new research shows.

The general rise in cashless payments over cash transactions is viewed positively by almost two-thirds of businesses nationally, according to a Bank of Ireland Payment Acceptance (BOIPA) survey.

This has left Irish businesses finely split over whether they expect to become fully cashless in the next ten years, with 47% believing this is now a distinct possibility.

The counties most confident of this are Dublin (55%) and Galway (51%). Wicklow (50%), Laois and Limerick (both 49%), as well as Kildare, Tipperary, Waterford, and Carlow (all 48%), also scored above the national average. Donegal businesses were the least optimistic - with only 36% believing it to be a possibility.

Ireland has progressed to being a leading adopter of cash alternatives compared to other countries, according to BOIPA.

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Cashless payments are the preferred method of payment for shopping offline across all countries surveyed at 55%.

However, the preference in Ireland is higher at 63%.

BOIPA managing director Conor Quirke commented: "The technological advancements within Irish banking and financial services has been matched by merchant and consumer appetite for payment solutions that make day-to-day transactions simpler and more convenient."