Overview

"Laser" is the brand name of the national debit card in Ireland.  A debit card is a card enabling the holder to have his purchases directly charged to funds on his account at a deposit-taking institution (may sometimes be combined with another function, eg that of a cash card or cheque guarantee card). (BIS definition). 

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For over-the-counter payments the customer's Laser card is read by a point-of-sale terminal which shows the amount on a display, which the cardholder checks and then authorises the transaction, usually by the use of a 4-digit PIN*. The retailer and customer each retain a copy of the receipt. The value of the transaction, to a maximum of €1,500 is debited from the cardholder’s account and credited to the retailer’s account within a couple of days.

All Laser transactions are recorded on the cardholders’ current account statement detailing where and when the transaction took place and the value of the transaction. Certain retailers will allow cashback, a facility which allows a sum of cash, up to a maximum of €100, to be added to the cost of the purchase. The Cashback sum is included on the transaction receipt.
 

*The PIN (Personal Identification Number) a numeric code which the cardholder may need to quote for verification of identity. In electronic transactions, it is seen as the equivalent of a signature. (BIS definition).

The Laser debit card scheme was set up in 1996. More than 1,273,000 people now have a Laser card and transactions consistently exceed 6.6 million each month.

Over 37,000 retailers nationwide accept and support Laser. Some merchants offer Laser as a payment method for purchasing over the phone, by mail order or over the Internet.

Laser Card Services Ltd., operators of the Laser scheme is owned and managed by the seven leading financial institutions in Ireland.

At a future date, to fit in with the Single Euro Payments Area (SEPA) initiative, the branding may change.

The Laser Card

The physical characteristics (size, shape, thickness, etc.) of a Laser card are defined by international standard ISO 7813.  There is probably no other standard which has greater worldwide acceptance, and the standard is now used for most other banking cards around the world, as well as for many non-financial applications.  See "How credit cards are made"

The Laser card primarilary serves the means of identification of the account to which a purchase should be charged.  The transaction is then authorised by the cardholder by other means (signature, PIN, or online, or other means as appropriate.)

Laser cards issued in Ireland now carry an EMV chip.  (EMV is an acronym for Europay, Mastercard, Visa, the three organisations who originally co-operated to develop the chip - Europay has now been absorbed into Mastercard).  The EMV chip is an essential part of the Chip & Pin strategy for security on credit cards.  The chip carries the essential identification information on the account, as well as mechanisms to authenticate the card as a unique original.  EMV is therefore a significant fraud reduction device.  The EMV chip has capacity for a range of functions including identification of multiple accounts, stored value cards, and ticketing systems.  However, to date, none of these applications have been used on Laser cards in Ireland.  EMV terminals are required to satisfactorily exploit the benefits of EMV, and EMV terminals have been installed in most retail outlets in Ireland, and some EU countries.  Significantly, EMV has not been widely adopted in the USA.  Accordingly, to accept US cards, old-type magnetic stripe terminals will also be maintained for many years.

On the obverse side of the Laser card is the magnetic stripe, which also carries the account identification information.  Contrary to popular belief, the magnetic stripe is very robust, as has been proved by Discovery Channel's Mythbusters.

On the obverse side is the signature panel.  As the technical requirements of the card become more advanced, it appears that the space for signature gets smaller.  The signature panel has some security features. The card should be signed as soon as possible after acceptance.  A retailer who accepts a card on the identity of a signature should compare the signature presented with the signature on the card.

Many banks issue combination cards which combine Laser, ATM card and Cheque Guarantee card.

Charges for Laser

Laser cards are usually issued in a current account package from your bank rather than specifically being charged for.  Note that there may, however be a government stamp duty (see below).  The charge for transactions varies between banks, and depends upon the particular current account package chosen.  The Financial Regulator conducts regular surveys of current accounts, and these show the range of charges for Laser from €0.0 to €0.28.  Click here for latest surveys.

Lost or Stolen Laser Cards

The maximum amount a cardholder can be held liable for in the event that their card is lost or stolen is €75 under the 'Payment Services Regulations 2009” The actual amount depends on the bank and circumstances of the situation. If a card is lost or stolen but the cardholder does not report it, then the cardholder may be liable to pay a greater amount.

Customers should contact the following telephone numbers to report the loss or theft of a Laser card as soon as possible.

Laser Safety Tips

Laser Acceptance

Laser only operates in the Republic of Ireland, but some Laser cards are also multiple function cards, which include other payment facilities on them, such as 'Cirrus', 'Plus', and 'Maestro' which allow for the use of the card in ATMs and retail outlets abroad.