Leading Irish retail banks, AIB, Bank of Ireland, and PTSB, are launching a Zippay solution integrated into each bank’s mobile app.
AIB, Bank of Ireland, and PTSB’s customers will be able to send, request, and split payments in real-time through the new Zippay functionality within their banking apps simply by using the recipient’s mobile number.
The service to launch in early 2026 is a substitute for the banks’ earlier initiative – Synch Payments, which was abandoned in 2023. The new instant mobile payments solution differs from the abandoned project by not being a standalone payment app, but rather an embedded functionality. This approach aims to leverage the retail banking leaders’ combined customer base of over five million users for quick adoption.
The move is widely seen as a strategic effort to counter the rise of fintech disruptors like Revolut, which gained massive traction in Ireland, amassing about three million users, and being ubiquitous among the younger demographics.
After its initial rollout in the three founders’ payment infrastructure, Zippay will be available to all Irish financial institutions offering IBAN accounts and mobile apps, with the European paytech provider Nexi managing integration. Eligible customers will be automatically enrolled and the feature will appear in their banking app upon launch. However, they may opt out if they prefer not to use it.
Per early reports, customers will be able to send up to €1,000 per day through Zippay, with a limit of €500 per request.
