Elsewhere in Europe, politicians are rushing towards cashless societies or seeking additional protections for those who prefer handling physical money or dislike online banking.
In France, businesses are forced to accept cash unless the banknotes or coins appear to be counterfeit or in poor condition.
However, in Sweden, Finland and the Netherlands, stores can refuse cash payments.
The European Union has recommended that retailers should not refuse cash payments unless both parties agree.
Last summer, Rishi Sunak ruled out forcing shops to accept cash in the UK, saying it was inappropriate to interfere in the affairs of individual businesses.
The Prime Minister said he believed everyone should have access to cash, but “it’s another thing for the government to start imposing a levy on individual businesses”.
His comments came after the government promised foreign banks to give customers free access to cash within three miles of their home.
Martin Quinn, from campaign group Payments Choice Alliance, said he welcomed the Irish government’s plans and urged the UK government to pass similar legislation.
“It’s about time the government considered passing payment choice legislation across the UK,” he said.
“With a general election coming up later this year, this makes sense and will ensure the Chancellor gets the vote. It will immediately boost Rishi Sunak’s polls and give the Conservative It will become very popular among the party’s voters.”
The Ministry of Finance has been contacted for comment.