Irish banks launch Zippay digital payment service to compete with Revolut

Zippay is an in-app service offered through customers’ existing mobile banking apps and will begin rolling out on a phased basis to users from Tuesday

Chief executive of the BPFI Brian Hayes said eligible customers will begin to see Zippay appear automatically in their personal banking apps on a phased basis from Tuesday.

The three Irish pillar banks are set to launch a new mobile payment service this week as they seek to compete with established alternative providers such as Revolut.

The new service is called Zippay and has been developed with Nexi, a European paytech company. It will be available initially from AIB, Bank of Ireland, and PTSB.