Irish Banks Launch ‘Zippay’ Mobile Payment Service to Compete with Fintech Rivals

Dublin: Ireland’s three main banks—AIB, Bank of Ireland and Permanent TSB—have launched a new person-to-person mobile payment service called Zippay, aimed at competing with fintech platforms such as Revolut and N26.

The service will be integrated into the banks’ existing mobile banking apps and will be rolled out gradually to around five million customers. Users will be able to send, request and split payments instantly using a contact’s mobile number, eliminating the need to enter IBAN or account details.

Customers will be automatically enrolled in the service unless they choose to opt out. The system allows transfers of up to €1,000 per day and payment requests of up to €500 per transaction, with no additional charges.

Banking and Payments Federation Ireland chief executive Brian Hayes said the platform will improve convenience and consumer choice by enabling secure payments directly through existing banking apps rather than requiring a separate digital wallet.

The technology powering Zippay has been developed by Italian payments firm Nexi, and the platform will be open to other financial institutions, including credit unions and fintech firms, in the future.

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