ieExplains: Irish banks launch Revolut rival — What is Zippay and how do I get it?

The new mobile payments app was launched by Bank of Ireland, AIB, and PTSB on Monday 

Zippay is a new digital payment service launched on Monday as in-app service by Bank of Ireland, AIB, and PTSB. Picture:Philip Toscano/PA Wire

The new digital payments service Zippay was launched on Monday, with the potential to reach more than 5m eligible customer accounts of the three retail banks. Zippay is being delivered by European paytech company Nexi. "Eligible customers will begin to see Zippay appear automatically in their personal banking apps on a phased basis from tomorrow," said Banking and Payment Federation chief executive Brian Hayes. 

What is Zippay?