Consumers are increasingly relying on debit cards for purchases, according to the Central Bank, with in store and online transactions rising in September, as credit card usage and ATM withdrawals fell.

According to figures released today point of sale transactions were up 14% in September when compared to the same period of 2016.

Debit card point of sale transactions valued more than €2.9 billion in the month - compared to less than €2.6 billion in September 2016.

At the same time ATM withdrawals fell slightly - from €1.63 billion a year ago to €1.57 billion in September of this year.

Credit card spending at the point of sale was also down fractionally year-on-year - slipping by €4.8m to less than €889m. That is despite a slight increase in the number of credit cards in issue compared to September 2016.

Meanwhile the Central Bank recorded a 12% increase in ecommerce spending - which reached €1.36 billion in September.

During the month ecommerce represented 24.4% of all debit card transactions and 31.7% of all spending on credit cards.