US EditionPublished • loading... • Updated
Banks to launch person-to-person mobile payment service
Zippay will serve over 5 million customers of Ireland's main banks with instant payment features integrated into existing apps, aiming to compete with fintech leaders like Revolut.
- AIB, Bank of Ireland and PTSB announced Zippay will launch in early 2026 as an in-app person-to-person payment service for their combined 5m eligible customers in Ireland.
- After a failed 2023 standalone app attempt, the three pillar banks scrapped their project due to delays and regulatory hurdles from the Competition and Consumer Protection Commission and Central Bank.
- Customers will be able to send, request, and split payments using mobile numbers saved in contact lists, with transfers capped at €1,000 per day and requests limited to €500 per transaction.
- Intended to take on fintech rivals like Revolut, Zippay is designed as a competitor to Revolut and N26 amid mobile wallets powering 35% of online and 21% of in-store transactions globally.
- The service is designed for scalability and wider participation, with Italian Milan-based PayTech Nexi managing technology and integration, allowing other financial institutions and credit unions with IBAN account services to join post-launch for a fee.
Insights by Ground AI
Podcasts & Opinions
12 Articles
12 Articles
Coverage Details
Total News Sources12
Leaning Left3Leaning Right1Center2Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 33%
R 17%
Factuality
To view factuality data please Upgrade to Premium
