Zippay - AIB,BoI and ptsb to launch instant payment service
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Revolut offers SEPA Instant payments. It's not a closed shop.
Dr Strangelove
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I never said otherwise.
People are comparing a system for credit transfers within one bank to a system to facilitate credit transfers between banks.
They are quite different things.
Revolut allow instant payments to other Revolut customers. They also allow instant payments to any account using SEPA Instant.
Zippay is allowing instant payments between accounts in three banks. These banks have not yet implemented SEPA Instant.
Dr Strangelove
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Correct, all you need is a phone number or QR code.
Correct but for this you need an IBAN for any non-Revolut Zip pay
Correct. The new product for Irish customers seems to be the ability to link IBAN to phone number across the three domestic banks.
I don’t think we disagree here!
JoeRoberts
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I think it would be wise to opt out until all the bugs are ironed out. It's fine to use Revolut but not for main bank with more substantial funds in it.
SJC_Dublin
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Dr Strangelove said:
That's true, and it definitely would not be an easy undertaking by any stretch. My point was primarily around the fact that an exact copy of this already exists with Wero for Euro payments within SEPA. That scheme is still in its infancy too but with the way things tend to go in Europe, its not that unlikely we'll see interoperability with other systems be a requirement down the line.
What in the name of God are you raving about?
I assume, being a rational person, that the banks are flogging this new all singing all dancing service so that they can make money. (As does Sue Ellen above.) That can only mean getting customers to switch from using other products to using theirs. My comment meant that I wasn't going to be among the customers that were going to switch. C'est tout.
Brendan Burgess
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you made it quite clear in the post that you were not going to be persuaded to give up your Revolut account.
I am raving about the fact that you can have Zip and Revolut at the same time. You do not need to give up Revolut as you seemed to imply.
Brendan Burgess
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Interesting take by John McManus in today's Irish Times
www.irishtimes.com
AIB, Bank of Ireland and Permanent TSB are now playing catch up and are going to bolt on some of the bells and whistles offered by Revolut to their existing apps including instant transfers.
... it is hard to see it as being much more than a pale imitation of Revolut rather than a serious competition. Can you see yourself laboriously logging into the AIB or the Bank of Ireland app to send someone a tenner when it takes seconds on Revolut?
...
As things stand, most people are happy with the status quo. Most Revolut users in Ireland see it as nice to have. But when it comes to where you want to get your salary paid into and who you want to hold the deeds of your house, the bricks and mortar banks win out. And that is where the money is made, not in facilitating seamless interbank transfers at no cost.
Irish banks in a deathmatch with Revolut
Revolut would seem to have all the advantages in terms of penetration, technology platforms, business culture and branding
AIB, Bank of Ireland and Permanent TSB are now playing catch up and are going to bolt on some of the bells and whistles offered by Revolut to their existing apps including instant transfers.
... it is hard to see it as being much more than a pale imitation of Revolut rather than a serious competition. Can you see yourself laboriously logging into the AIB or the Bank of Ireland app to send someone a tenner when it takes seconds on Revolut?
...
As things stand, most people are happy with the status quo. Most Revolut users in Ireland see it as nice to have. But when it comes to where you want to get your salary paid into and who you want to hold the deeds of your house, the bricks and mortar banks win out. And that is where the money is made, not in facilitating seamless interbank transfers at no cost.
balders93
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I can't speak for AIB but BOI has biometric login that works grand
Brendan Burgess
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OK
So just tapped on Revolut and it opened immediately.
Tapped on AIB and there are two steps:
Tap Continue to proceed
Input 5 digit PAC
Sure Revolut is easier, but AIB is hardly "laborious".
Security would probably be more important. If you know my code, you can access my AIB app. I don't suppose you would have any way of accessing my Revolut app?
So just tapped on Revolut and it opened immediately.
Tapped on AIB and there are two steps:
Tap Continue to proceed
Input 5 digit PAC
Sure Revolut is easier, but AIB is hardly "laborious".
Security would probably be more important. If you know my code, you can access my AIB app. I don't suppose you would have any way of accessing my Revolut app?
I got a call from a nice man [although he sounded a bit robotic] the other day, saying there was unauthorised access to my Revolut account. So maybe it's not that secure after all.
I guess I have to work on my joke-delivery technique.
Or your material? No idea what the joke was supposed to be...
AIB don't have face-recognition login, whereas Revolut and N26 do. In my experience AIB fails to login maybe 1 in 5 times too.
The stage where (for some unexplained reason) it opens the browser sometimes causes logins to fail.
Brendan Burgess
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I tap and pay with AIB and it works all the time. It's using face recognition for that I presume.
I can't remember it failing to log in.
Do you mean tapping? Sometimes that fails because I haven't looked at it.
no I mean logging into the app, only fingerprint is supported.
Tapping usually requires that the phone be unlocked, which depending on your phone could use facial recognition.
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