Starting this week, customers of AIB, Bank of Ireland and PTSB will be able to send instant payments using only a contact’s phone number, eliminating IBAN setup for peer transfers. As of Monday at 11: 20 a. m. ET, the phased rollout of zippay is beginning across the banks’ mobile apps.
Immediate Changes for AIB, Bank of Ireland and PTSB Customers
Once the feature appears in their existing mobile banking apps, eligible account holders can send, request and split payments instantly with contacts who also use the service. No separate download is required, and the system will match participants by the mobile numbers saved in a user’s phone book, removing the need to manually add payees.
The rollout is automatic and phased, meaning customers will see the option appear within their current banking app interface as activation progresses. The initiative is designed as a direct, in-app alternative to setting up transfers with IBAN details, focusing on quick person-to-person payments in day-to-day use.
Zippay Limits, Reach and How It Works Inside Banking Apps
The three banks’ combined base gives the service potential access to more than five million customer accounts, creating an immediate network effect once contacts enroll. Amounts in euro: users can send up to €1, 000 per day and request up to €500 per transaction, as outlined by the Banking & Payments Federation Ireland (BPFI).
Functionally, Zippay operates inside each bank’s existing app. The feature identifies who else can receive or send funds by checking mobile numbers against the Zippay network, allowing payments to be initiated without entering account numbers. For customers already comfortable with their current app, this keeps transfers and requests in one familiar place.
Nexi, BPFI and Revolut Context Behind the Rollout
The person-to-person service is being delivered by European payments technology company Nexi, which has previously partnered with Irish financial institutions on digital systems. BPFI said eligible customers at AIB, Bank of Ireland and PTSB will begin to see the feature appear automatically as the launch ramps up this week.
Plans for the service were first announced in 2022, and the rollout was confirmed in September last year as the banks prepared a rival to Revolut’s dominance in money transfers in Ireland. Revolut has more than three million users in the country, setting a high bar for speed and convenience that Zippay aims to match from within traditional banking apps.
After the initial launch, zippay will also be made available to other financial institutions in Ireland that offer IBAN accounts and have a mobile banking app, widening the network beyond the three founding banks. Participating customers will receive details from their bank by email or in-app notifications as activation reaches their accounts.
No specific ET schedule for full activation across all users was provided. If the phased timetable holds, many customers at AIB, Bank of Ireland and PTSB should see the feature within days, with expansion to additional Irish institutions following the initial launch window.
