Irish Banks Launch Zippay Instant Payment Service to Five Million Customers

Ireland's three pillar banks — AIB, Bank of Ireland, and PTSB — have officially launched Zippay, a person-to-person mobile payment service designed to compete with fintech platforms like Revolut and N26.

The service launches to approximately five million customers on a phased basis beginning March 10, 2026. Zippay operates as an integrated feature within existing bank mobile apps, allowing users to send, request, and split payments instantly using contact phone numbers — without needing to know recipients' IBANs or account numbers.

How It Works

Users can transfer up to €1,000 daily and request up to €500 per transaction. There are no additional bank charges for usage, and the service is built into current banking applications with no separate app required.

The rollout is on an opt-out basis, meaning eligible customers will automatically be included unless they tell their bank they do not want to participate. Enrollment details are being sent via email and in-app messages, with a dedicated website (www.Zippay.ie) providing additional guidance.

Technology and Expansion

The technology behind the service is delivered by Italian payment systems company Nexi. Zippay has left the door open to other financial institutions joining in the future, meaning credit unions and fintech banks could be added, though integration will require fees managed by Nexi on a non-discriminatory basis.

The launch follows a failed 2023 attempt by the same three banks to develop a standalone payments app, which faced regulatory obstacles and multiple delays. This time, by integrating the service directly into existing banking apps, the banks have taken a more pragmatic approach.

About Zippay

Zippay is an instant person-to-person mobile payment service launched by AIB, Bank of Ireland, and PTSB, powered by Nexi. It is integrated into the banks' existing mobile apps, serving approximately five million eligible customers across Ireland.