Nexi’s Mobile Payments Land in Ireland

WHY THIS MATTERS: The launch of Zippay by Ireland’s major retail banks, powered by Nexi, is a critical step in the ongoing evolution of European Account-to-Account (A2A) infrastructure. For years, P2P money transfers have been ceded to third-party digital wallets, forcing consumers to navigate separate apps and top-up requirements. This unified bank-led initiative changes that dynamic by leveraging the powerful trend of embedded finance. By integrating instant, mobile-number-based payment rails directly into core banking applications, the banks are reclaiming the user experience. This development streamlines the daily financial lives of over five million customers, making quick transfers as seamless as checking an account balance. Crucially, it sets a template for how traditional financial institutions can collectively deliver a superior, high-security payments experience that leverages established trust, rather than defaulting to fintech intermediaries.

Zippay, the in-app mobile payment service developed by Nexi will be initially made available from 10 March by AIB, Bank of Ireland and PTSB. The three banks will commence a phased launch of the service within their respective mobile banking apps, reaching a potential base of over 5 million customers. Once launched, the Zippay service will be made available to all financial institutions offering Irish consumers IBAN-based accounts and a mobile app, should they wish to participate.

Zippay enables users to send, request and split payments simply by using the mobile phone numbers of contacts saved in their address book, provided they are also users of the Zippay service.

“Partnering with Irish retail banks to bring Zippay to market allows us to further accelerate the evolution of digital payments in Europe. This launch represents an important endorsement of our expertise in developing innovative Account-to-Account solutions, leveraging the Group’s capabilities and experience,” said Renato Martini, Digital Banking Solutions Director at Nexi Group. “Once launched the service will be available to all other Irish financial institutions, Nexi will manage the entire technology integration process.”

Brian Hayes, Chief Executive of Banking & Payments Federation Ireland, commented: “Starting on 10 March, customers will gradually see Zippay appear in their Irish mobile banking apps. The service will offer them a quick and easy way to send and receive money, or split bills and expenses with friends, family and other contacts using the service. Customers will be able to send up to €1,000 per day and request up to €500 per transaction. There is no need to top up a digital wallet or download a separate app: Zippay uses the mobile numbers stored in the users contact list to identify contacts already enrolled in the service, ensuring a seamless, fast and secure experience”.

To support the launch of the service, customers of AIB, Bank of Ireland and PTSB will receive communications via email and in-app messages.

A dedicated website – www.zippay.ie – is also available with comprehensive information. In addition, each participating bank will provide a dedicated online information page with specific details for its customers.
 

FF NEWS TAKE: Zippay certainly moves the needle for Ireland, creating a unified domestic standard for rapid P2P payments. It represents a potent defensive play by incumbent banks, utilizing Nexi’s A2A expertise to resist further fragmentation from neo-banks and global payment schemes. We see this as a test case for broader European market consolidation in the payments space. The next crucial step will be watching the uptake rate and whether other smaller financial institutions in Ireland rapidly adopt the service to ensure genuine ubiquity. If successful, this model could be quickly exported across the continent.

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