A new person-to-person mobile payment service, Zippay, has been officially launched by Ireland’s three pillar banks – AIB, Bank of Ireland, and PTSB – offering customers an alternative to fintech platforms like Revolut and N26. The service, integrated into the banks’ existing mobile banking apps, will be rolled out to roughly five million customers on a phased basis starting tomorrow.
Zippay allows users to send, request, and split payments instantly using the mobile numbers of contacts who are also enrolled in the service. Customers will not need to know IBANs, BICs, or other account details, with daily transaction limits set at €1,000 for sending payments and €500 for requests. The service is free of additional charges.
Enrollment will operate on an opt-out basis, meaning eligible customers will automatically appear in Zippay within their banking apps unless they choose to decline. The system identifies other users through contacts saved on the customer’s phone.
Brian Hayes, Chief Executive of the Banking and Payments Federation Ireland, said the service combines convenience with security. “A key benefit of this payment service is that it is being delivered through customers’ existing mobile banking apps and therefore comes with all the same high levels of security, protection and digital safety,” he told RTÉ’s Morning Ireland. Hayes added that Zippay avoids the need for topping up separate digital wallets or downloading new apps.
Hayes described Zippay as a significant development for Irish consumers. “It’s a person-to-person mobile payment service that effectively links up those clunky IBAN numbers with your mobile phone network. It allows people to send, receive, and make split payments on an instant basis.” He highlighted that the platform could grow into a strong domestic solution, offering opportunities for scale and investment, with other banks and financial institutions invited to join.
The technology behind Zippay is provided by Italian payments company Nexi. Renato Martini, Nexi’s Digital Banking Solutions Director, said the service is “built for scalability and future growth” and is available on a non-discriminatory basis to any financial institution providing IBAN accounts and mobile banking apps in Ireland.
Zippay follows a previous unsuccessful attempt by the three banks to launch a standalone app in 2023, which was scrapped after regulatory delays and other challenges. The new service avoids these obstacles by integrating directly into existing apps rather than creating a separate platform.
As Zippay rolls out, eligible customers will receive information via email and in-app notifications. Additional guidance is available on a dedicated website at www.Zippay.ie. Hayes emphasized that the platform’s openness and integration with existing apps could allow broader participation in the future, including credit unions and fintech banks, offering users a simple and secure alternative for mobile payments.
