Ireland’s three main retail banks — AIB, Bank of Ireland and Permanent TSB — have announced plans to launch a joint person-to-person mobile payment service in early 2026, aiming to challenge fintech rivals such as Revolut and N26.
The new service, branded Zippay, will be built directly into the lenders’ existing mobile banking apps, giving more than five million customers across the three banks access to instant, contact-based transfers. Customers will be able to send, request, and split payments by simply selecting a mobile number from their contact list, without needing to know bank account details such as IBAN or BIC codes.
Set to go live in the first quarter of 2026, Zippay will operate on an opt-out basis, meaning eligible customers will be automatically enrolled unless they specifically choose otherwise. Once active, the service will appear within customers’ banking apps. Transaction limits will allow users to send up to €1,000 per day and request up to €500 per transaction.
The technology behind Zippay will be provided by Italian payments specialist Nexi, which will also oversee integration for other institutions such as credit unions that wish to join. These additional participants will be required to cover associated costs.
In a statement, Brian Hayes, Chief Executive of Banking & Payments Federation Ireland, said the service was designed “in response to customer feedback and demand.” He emphasised that embedding Zippay into existing apps would provide the same “high levels of security, protection, and digital safety” customers already expect, while eliminating the need for topping up a wallet or downloading a separate application.
The move marks a renewed push by the country’s pillar banks to offer a competitive digital payments platform after a failed attempt in 2023. That initiative, which sought to launch a standalone app, was abandoned following repeated delays linked to regulatory approval and technical challenges. This time, however, the banks argue the integration approach avoids the need for complex regulatory permissions.
The joint venture also comes amid growing competition from digital-first challengers, particularly Revolut, which has gained a strong foothold in Ireland thanks to its ease of use, rapid payments and cross-border functionality. By leveraging their large existing customer bases, the banks hope Zippay will help stem the outflow of users to fintech providers while providing a homegrown alternative that benefits from local oversight and integration with established banking systems.
A dedicated website, www.zippay.ie, has been launched to provide customers with details on the rollout, including instructions on how to opt out if they do not wish to participate. Information will also be distributed by the banks in the coming weeks as preparations for the launch continue.
With Zippay, the Irish banks are betting that convenience and built-in trust will persuade customers to embrace their new service, even as international digital challengers continue to expand their reach.
