AIB has said its introductory offer of waiving transaction fees for contactless transactions will continue until August of next year.

This method of payment sees people paying for their goods by tapping their contactless card to the terminal without the need to enter their PIN number, up to a spending limit of €15. 

Since June, contactless cards are being used by AIB customers for more than a million transactions a month. 

The bank also said today that from October 31, the current spending limit of €15 per transaction will rise to €30.

AIB said the move towards contactless payments is aligned to the Government's National Payments Plan to help towards reducing cash and paper based transactions and promoting electronic transactions.   

Contactless payments by AIB customers rose over 200% in the last year. 

AIB also said today that it had one million active online customers in August.

Over 50% of the bank's customers are now active online, while 49% of loan approvals were completed online in the first half of the year.