What is Laser Card?
Laser Card is an Irish issued debit card. It was established in 1996 by the leading retail banks in Ireland as an alternative to the cheque and debit cards have grown considerably in popularity since then.
The Laser debit card has been popular with retailers as it cuts down on the need to hold cash or to accept cheques, which in turn lowers administration and cash security costs.
In addition, end of day settlement is done swiftly, with retailers being credited for their sales overnight or within 3 working days.
Laser debit cards are currently being replaced with new global brands Visa Debit and Debit MasterCard, with more than half of former Laser Cardholders already using one of those debit cards. It is expected that Laser Card will be replaced fully by the end of 2013.
At its height, Laser was used by more than 3 million cardholders and sales of up to €11billion were reached in one single year (2010).