Ireland's retail banks are launching an instant payments service called Zippay on their apps this week. Photograph: BPFIIreland’s three domestic banks are launching an instant mobile payments service on their apps this week. A previous attempt by the banks to introduce an instant payments system, which started in 2020 and was abandoned in 2023, was based around developing a new app and a joint venture company. The payments landscape has continued to evolve rapidly since the Synch project was dropped, including European banks having to join the Single Euro Payments Area (Sepa) instant payments system early last year. But while Sepa Instant Credit Transfer (SCT Inst) requires use of an Iban, or 22-character international bank account number, Zippay payments can be made through mobile contacts, making transactions easier.

Source: The Irish Times March 09, 2026 03:03 UTC