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Bank-backed Irish mobile payments app taps Nexi as tech partner

Bank-backed Irish mobile payments app taps Nexi as tech partner

Synch Payments, the mobile payments joint venture set up by Ireland's leading banks, has brought in Italy's Nexi as its technology partner.

Synch is building a money-transfer app, called Yippay, on behalf of AIB, Bank of Ireland, KBC Ireland and Permanent TSB.

It will offer banks and authorised financial institutions a service that will lets merchants receive account-to-account payments for POS and e-commerce transactions, with an effective “mobile-only” user-experience for shoppers.

Earlier this month, the project, which is designed to help the banks take on the likes of Revolut, was given the all-clear by Ireland's Competition & Consumer Protection Commission.

Nexi, which has developed the Jiffy platform powering mobile payments service Bancomat Pay in Italy, has now been picked as the Synch platform and service provider.

Inez Cooper, MD, Synch Payments, says: "Since the recent CCPC announcement a week ago we have had a number of enquiries from organisations that want to join the service.

"It is a really exciting time and we are delighted that we will have Nexi working alongside us - ensuring that we have a trusted partner with world class credentials in digital payments."

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