Irish Banks Join Forces to Launch Zippay

Three traditional banks are teaming up to take on neo bank Revolut.

AIB, Bank of Ireland, and PTSB have (again) announced a new instant payments service called Zippay. It will be built directly into their existing banking apps, with no need for customers to download anything new.

The service will let people send, request, and split money instantly using just a mobile number. No more setting up payees or remembering IBANs.

Zippay will be automatically activated for more than five million bank customers early next year, though people can choose to opt out. Transfers will be capped at about one thousand euro a day, with requests limited to five hundred euro per transaction.

The system is being delivered by Italian payments firm Nexi, and the banks say it comes with the same level of security as their current apps.

Other financial institutions like credit unions can apply to join, but they’ll need to pay for integration.

This isn’t the first time the banks have tried mobile payments. A previous standalone app project collapsed in 2023 after delays and regulatory hurdles. But with Zippay integrated into existing apps, no new approvals are required. You’d wonder why this wasn’t the plan in the first place.

Banking leaders say the move is driven by customer demand and a desire to keep pace with digital rivals, namely Revolut that has grown to over 3 million customers in a relatively short period of time. EThe rollout is expected in the first quarter of 2026. You can watch my take on this over on TikTok.

Written by

Marty
Martyhttps://muckrack.com/marty-goosed
Founding Editor of Goosed, Marty is a massive fan of tech making life easier. You'll often find him testing something new, brewing beer or finding some new foodie spots in Dublin, Ireland. - Find me on Threads

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