Table of Contents
Banking and Payments Federation of Ireland (BPFI) has released a statement containing a development involving Ireland’s three big retail banks—AIB, Bank of Ireland, and Permanent TSB—teaming up to launch a new digital payment service called “Zippay” in early 2026.
The Banking & Payments Federation Ireland (BPFI) announced that Italian firm Nexi will deliver the new Zippay service, with BPFI chief executive Brian Hayes noting it was created in direct response to customer feedback and growing demand.
The service is expected to make sending and receiving money faster and more seamless, similar to how Revolut allows instant transfers between users. When launched, Zippay will be a joint service from the main Irish banks, and it will automatically be available to their 5+ million customers, without them needing to sign up separately
How Zippay Will Work in 2026
The statement added that Zippay will be built into the existing mobile apps of AIB, Bank of Ireland, and Permanent TSB, meaning customers won’t need to download anything new app or sign up separately. It will use mobile numbers from a customer’s contact list to identify other Zippay users, eliminating the need to set up new payees or enter IBANs, BICs, or account numbers, as transfers will move seamlessly between accounts.
The move is a direct response to the growing popularity of Revolut, which has been attracting a lot of Irish users (especially younger people) with its easy-to-use digital banking features. This is the main reason the Irish banks are banding together to launch their own version of Revolut, hoping to stop customers from shifting their day-to-day banking to fintech alternatives.
So, by keeping the Zippay services within their current apps, the banks are making sure customers stay within their ecosystem instead of turning to outside providers. In addition to that, Zipper is backed by the security and familiarity of traditional banks. Unlike Revolut, which began as a disruptor outside the mainstream banking system.
Zippay will connect directly with customers’ existing current accounts. That could make day-to-day payments, like splitting bills or transferring money to friends, seamless without needing to move money in and out of a separate app. The integration with Ireland’s main banks also suggests strong regulatory oversight and safeguards, something traditional customers value so much.
What the future holds for Revolut in Ireland
The future of Revolut in Ireland will depend on whether it continues to innovate and differentiate itself, rather than relying on its current popularity. Although, it won’t disappear suddenly because its appeal among younger users and that is a strong thanks to its slick design, global reach, and extra features like stock trading and crypto.
Revolut was founded on 1 July 2015 by Nikolay Storonsky and Vlad Yatsenko, offering individuals in the United Kingdom and European Economic Area a smartphone app linked to a pre-paid Mastercard to spend money abroad using interbank foreign exchange rate. Customers could use their Revolut card in 90 countries.
In addition to that, the London-based company has since expanded its services to include savings accounts, personal loans, motor insurance, and stock trading. It's also planning on launching mortgage services in Ireland, further expanding its offering beyond payments and savings to become a full-service digital bank.
However, Zippay represents a serious challenge in the domestic market. If the banks can match Revolut’s ease of use while offering the security of being the primary account provider, many users may prefer sticking with their main bank.
