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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.
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11 Articles
Irish Banks Launch Zippay to Challenge Revolut
What Is Zippay and Who’s Behind It? Three of Ireland’s biggest lenders — AIB, Bank of Ireland, and PTSB — announced plans to launch Zippay, a peer-to-peer (P2P) payments service, in early 2026. The initiative marks the first major bank-backed alternative to standalone wallet apps in the Irish market. Collectively, the three banks control over 70% of the country’s retail banking sector and serve more than 5 million customers, giving Zippay instan…
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Total News Sources11
Leaning Left2Leaning Right1Center2Last UpdatedBias Distribution40% Left, 40% Center
Bias Distribution
- 40% of the sources lean Left, 40% of the sources are Center
40% Center
L 40%
C 40%
R 20%
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