2026: The year Irish banks take on rival Revolut

Updated / Friday, 26 Dec 2025 05:00 (Stock image) The banks are finally gearing up to challenge the convenience and polish of Revolut. Gill Stedman By Gill Stedman With Zippay on the way, 2026 is already shaping up to be an interesting year for Irish banking. AIB, Bank of Ireland and PTSB are teaming up to launch the service right inside their existing apps, aiming to give customers an easy way to send, request and split money without needing anything new. It might start off as a simple payment tool, but the move signals something bigger. The banks are finally gearing up to challenge the convenience and polish of Revolut. If Zippay delivers what it promises, 2026 could be the year the home-grown banking giants step up and seriously take on the fintech favourite. "2026 could mark a real turning point in how Irish consumers interact with their banks," said Nick Charalambous, Managing Director of Alpha Wealth. But is Zippay likely to replace Revolut altogether? "Zippay has the potential to challenge Revolut but it's unlikely to replace it, certainly not in the short-term," he said. "Its biggest advantage is trust and scale - Ireland’s main banks already serve more than five million customers, and many people still prefer having their payments tied to a traditional bank," he said. However, he pointed out that Revolut has become deeply embedded in people’s day-to-day lives. "Features like multi-currency accounts, competitive FX rates, travel friendly tools, saving vaults and digital cards give it a breadth that Zippay isn’t aiming to replicate," he added. Will Revolut join Zippay? Revolut and other digital banks certainly have the option to join Zippay. However, when contacted, Revolut declined to comment on whether or not the company will be joining. Another popular digital bank in Ireland N26 said they have no plans at the moment to join Zippay, but didn't rule out joining in the future. The company currently offers instant money transfers through MoneyBeam. "We remain open to initiatives with similar goals and will gladly inform you if we have news to share in this regard in the future," an N26 spokesperson said. How will Zippay work? When Zippay launches - sending, requesting or splitting money should be much easier. Instead of digging out an IBAN or setting up a new payee, you'll just use a mobile number, much like sending a text. If you’re with AIB, Bank of Ireland or PTSB, you won’t need to download anything new either. Zippay will live inside your existing banking app and come with the same security and protections you already have. Most customers will be enrolled automatically when the service goes live, so it should just appear in your app one day. But if it’s not for you, opting out will be straightforward. That ease of use means Zippay is likely to impact Revolut’s grip on person-to-person payments. But Revolut isn’t going anywhere - it still offers a much broader set of features beyond quick transfers. "It’s now a full...

Preview: ~500 words