New mobile payment service 'Zippay' set to debut in early 2026, in partnership with Nexi, signifying the introduction of a fresh payment method in Ireland.

In a significant step towards modernising personal finance, the Banking & Payments Federation Ireland (BPFI) has announced the introduction of Zippay, a new person-to-person mobile payment service, set to launch in Ireland next year.

Zippay will be an in-app service offered through the banks' existing mobile banking apps. Eligible customers of AIB, Bank of Ireland, and PTSB, totalling over 5 million individuals, will automatically be enrolled to Zippay once the service is launched. Other financial institutions involved in the service launch have not yet been specified.

The goal of Zippay's design, according to Renato Martini, Digital Banking Solutions Director of Nexi Group, is to make the solution as widely available as possible to customers across Ireland. Zippay will be powered by the technological infrastructure of Nexi, the leading European PayTech.

Zippay will provide a quick and easy way to send and receive money or split bills with friends, family, and contacts who are also Zippay users. There will be no need to set up a new payee or know IBAN, BIC, or account numbers with Zippay. Transactions can be made using the mobile number of contacts who are also using the service.

Customers will be able to send up to €1,000 per day and request up to €500 per transaction with Zippay. Payments can be sent, requested, and split instantaneously.

Nexi will manage the integration of eligible financial institutions that wish to join the Zippay service. The service will be built on an API-based architecture for scalability and future expansion.

Zippay is developed in response to customer feedback and demand. It aims to simplify the process of sending and receiving money, making personal finance more convenient for Irish consumers.

The first financial institution to provide the service after the launch of Zippay in Ireland in 2026 has not been specified in the available search results. However, it is expected that more details will be announced as the launch approaches.

In conclusion, the introduction of Zippay represents a significant stride towards digitalising personal finance in Ireland. With its user-friendly interface and convenient features, Zippay is set to revolutionise the way Irish consumers manage their finances.