Revolut rival Synch Payments secures Milan-based Nexi as service provider

Earlier this month, the CCPC cleared Synch Payments for development by Irish banks provided they meet a number of legally binding commitments

The development of the service is aimed at creating an industry-wide banking payments app to take on the likes of Revolut. Picture: Orla Murray.

Synch Payments has finalised a deal with European PayTech leader Nexi as the app's platform and service provider, the mobile payments firm announced today.

Earlier this month, the Competition and Consumer Protection Commission (CCPC) cleared Synch Payments for development by Irish banks, provided they meet a number of legally binding commitments.