{"id":142446,"date":"2025-09-08T20:45:11","date_gmt":"2025-09-08T20:45:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/142446\/"},"modified":"2025-09-08T20:45:11","modified_gmt":"2025-09-08T20:45:11","slug":"irish-banks-unite-to-take-on-revolut-with-p2p-payments-app","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/142446\/","title":{"rendered":"Irish banks unite to take on Revolut with P2P payments app"},"content":{"rendered":"<p>Ireland&#8217;s top three retail banks are to jointly launch a mobile payment service, Zip Pay, next year to rival fintech giant Revolut.<\/p>\n<p>Editorial<\/p>\n<p>This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.<\/p>\n<p>Under the plans, customers of AIB, Bank of Ireland and PTSB will be able to send, request and split payments instantaneously with the new Zip Pay service by using the mobile numbers of their contacts who are also using the service.\u00a0Customers will be able to send up to \u20ac1,000 per day as well as request up to \u20ac500 per transaction.<\/p>\n<p>The move resurrects a previous venture, Synch Payments, which was abandoned in 2023 following a series of <a href=\"https:\/\/www.finextra.com\/newsarticle\/42607\/bank-backed-irish-payments-app-faces-more-delays\" rel=\"nofollow noopener\" target=\"_blank\">setbacks<\/a> and advances in digital payments.<\/p>\n<p>Unlike that previous doomed attempt, which positioned Synch as a stand-alone payments app, Zip Pay will be directly integrated into each bank&#8217;s mobile app, providing instant traction to their combined five million customer base.<\/p>\n<p>\u201cEligible customers will automatically be enrolled to Zip Pay, which will appear in their personal banking app once the service is launched next year,\u201d says Brian Hayes, CEO of Banking and Payments Federation, Ireland. \u201cIt will use mobile numbers saved in the customer\u2019s contact list to identify who else uses Zip Pay. There will be no need to set up a new payee or know their IBAN, BIC or account numbers &#8211; the money will transfer between accounts seamlessly.&#8221;<\/p>\n<p>Zip Pay will be delivered by paytech firm Nexi, which had been previously lined up to build the Synch app.<\/p>\n<p>After the initial launch, Zip Pay will be offered to all financial institutions that provide Iban account services and a mobile app to Irish consumers.<\/p>\n","protected":false},"excerpt":{"rendered":"Ireland&#8217;s top three retail banks are to jointly launch a mobile payment service, Zip Pay, next year to&hellip;\n","protected":false},"author":2,"featured_media":142447,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[41],"tags":[3744,9190,18935,16993,28,26535,7259,26534,7611,939,9077,26532,1530,451,26537,162,2852,20835,165,3,15360,9006,26536,7600,14809,172,74,447,26533],"class_list":["post-142446","post","type-post","status-publish","format-standard","has-post-thumbnail","category-mobile","tag-bank","tag-banking","tag-blockchain","tag-breaking","tag-business","tag-challenger","tag-digital","tag-execution","tag-fin","tag-finance","tag-financial","tag-finextra","tag-fintech","tag-headlines","tag-insurtech","tag-investment","tag-it","tag-latest","tag-mobile","tag-news","tag-online","tag-payments","tag-regtech","tag-retail","tag-services","tag-tech","tag-technology","tag-trade","tag-transaction"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/142446","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=142446"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/142446\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/142447"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=142446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=142446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=142446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}