The app will allow locals to transfer money instantly, in a move seen as a direct response to Revolut.
Ireland’s three pillar banks, AIB, Bank of Ireland and PTSB, have announced plans to roll out a new person-to-person mobile payment service called Zippay.
The app will allow locals to transfer money instantly, in a move seen as a direct response to Revolut.
The banks say it could reach up to five million people, with hopes it will be extended to other financial institutions.
Brian Hayes, CEO of the Banking and Payments Federation of Ireland, says extra fees are not expected to be attached to the service.
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