Dáil Éireann Debate, Tuesday - 7 November 2023
318. Deputy Louise O'Reilly asked the Minister for Finance if, given that it has been stated that Irish contract law allows for a shop or other business to place a sign saying, for example, 'card only' (details supplied), and that the act of displaying this sign constitutes a contract binding on the customer, he will outline the grounds of "Irish contract law", specifically, legislation and articles, on which his interpretation is based. [47853/23]
View answerAs the Deputy will be aware, where a business places no restrictions on the means of payment it is prepared to accept, it must accept cash as legal tender when offered by a customer to settle a debt that has arisen. If a business specifies payment must be in a form other than cash, the customer cannot subsequently claim a legal right to pay in cash. This can be achieved by, for example, placing a sign stating, “cash not accepted” or “card payment only” at the store entrance or check out area.
As a matter of common law, contracts are formed by offer and acceptance. In general terms, a contract is formed between a retailer and a customer when a retailer accepts an offer made by a customer. The terms which apply to such a contract are a matter for the parties to determine and will depend on the circumstances of the case. The Consumer Rights Act 2022, which was sponsored by the Minister for Enterprise Trade & Employment, applies to contracts entered into between retailers and consumers on or after 29 November 2022.
The Deputy should also be aware that one of the recommendations of the Retail Banking Review was that the Department of Finance should lead on the preparation of a new National Payments Strategy to be completed in 2024.
The National Payments Strategy will set out a roadmap for the future evolution of the entire payments system, taking account of developments in digital payments, the use of cheques and other issues, and guide how future changes should be made to the entire payments system. The Strategy should also be informed by, and aligned with, the retail payment strategies of both the EU Commission and the Eurosystem.
