# Ireland — payment codes and schemes

> Source: https://docs.barcoder.ai/docs/payments/IE
> extracted at 2026-10-06
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

## Summary

- **No unified national QR payment standard** - Ireland follows European frameworks (EPC QR, EMVCo)
- **Zippay** launching early 2026 - joint P2P service by AIB, Bank of Ireland, and PTSB
- **SEPA Instant** available through major banks (10-second transfers)
- **Big Three** (AIB, Bank of Ireland, PTSB) dominate after Ulster Bank/KBC exits
- **Revolut** has ~3 million Irish users, significant fintech presence

## Banking landscape

### Central Bank
- **Name:** Central Bank of Ireland
- **Website:** https://www.centralbank.ie/
- **Role:** Banking supervision, payment systems oversight, consumer protection

### Major Banks (2024)

| Rank | Bank Name | Total Assets (EUR) | Market Share | Type |
|------|-----------|-------------------|--------------|------|
| 1 | Citibank Europe | 178,620 M | ~22% | International |
| 2 | Bank of Ireland | 161,810 M | ~20% | Domestic |
| 3 | AIB | 141,270 M | ~18% | Domestic (40.8% State-owned) |
| 4 | PTSB | 28,930 M | ~4% | Domestic (57.4% State-owned) |

### Market Structure
- **Big Three Retail:** AIB, Bank of Ireland, PTSB
- **Mortgage Market:** AIB + Bank of Ireland hold 75%+ combined share
- **PTSB Mortgage Share:** 16.3% (growing after Ulster Bank acquisition)
- **2023 Combined Profits:** EUR 3.7 billion (+100% YoY)

### Market Consolidation (2022-2024)
- **Ulster Bank:** Exited Irish retail market
- **KBC Bank Ireland:** Exited Irish market
- Big Three absorbed customer portfolios
- Reduced competition temporarily

---

## Payment infrastructure

### National Payment Systems

| System | Operator | Type | Status |
|--------|----------|------|--------|
| TARGET2-IE | Central Bank of Ireland | RTGS | Active |
| SEPA Instant | EBA Clearing/TIPS | Instant payments | Active |
| Card Payments | Various | Debit/Credit | Active |

### SEPA Instant Payments
- **Speed:** Within 10 seconds
- **Availability:** 24/7/365
- **Currency:** EUR only
- **Limit:** Varies by bank (up to EUR 100,000)

### SEPA Instant via AIB
- Available through mobile app, Internet Banking, in branch, Kiosk, and iBB
- Users can set daily or transaction limits
- From October 2025: No additional limits beyond existing channel limits

### SEPA Instant via Bank of Ireland
- Default option on 365 Online when payee's bank supports it
- Can switch to regular SEPA payment if preferred

### EU Regulation Timeline
- **January 2025:** PSPs must receive SEPA Instant payments
- **October 2025:** PSPs must send SEPA Instant payments

---

## QR code standards

### No Unified National Standard

Ireland does not have a country-specific QR payment standard like Croatia's HUB3 or Slovenia's UPN QR. The market relies on:

| Framework | Type | Status |
|-----------|------|--------|
| EPC QR (SCT) | European standard | Available |
| EMVCo QR | Global standard | Available |
| Payment gateway QR | Various providers | Active |

### EPC QR Code Compliance
- European Payments Council standards apply
- Generalized for Mobile-initiated SCTs (MSCTs)
- Covers P2P, C2B, B2B, and B2C contexts
- Supports both SCT and SCT Inst (instant)

### EMVCo QR Specifications
- Consumer-presented mode (CPM)
- Merchant-presented mode (MPM)
- Multiple payment options via single QR code

### Merchant QR Solutions
- SumUp, Square, and other payment providers offer QR
- Primarily for contactless payment acceptance
- Not standardized across banking sector

---

## Mobile payment apps

| App Name | Bank | SEPA Instant | QR | Zippay |
|----------|------|--------------|-----|--------|
| AIB Mobile | AIB | Yes | Limited | 2026 |
| Bank of Ireland 365 | Bank of Ireland | Yes | Limited | 2026 |
| PTSB Mobile | PTSB | Yes | Limited | 2026 |
| Revolut | Revolut | Yes | Yes | N/A |
| N26 | N26 | Yes | Yes | N/A |

### AIB Mobile Features
- SEPA Instant payments
- Standard and instant payment toggle
- Customizable instant payment limits
- Pay & Transfer functionality

### Bank of Ireland 365
- SEPA Instant as default option
- Mobile banking with instant transfers
- 365 Online platform

---

## Third-party payment apps

| App Name | Type | Users (Ireland) | Status |
|----------|------|-----------------|--------|
| Revolut | Digital bank | ~3 million | Dominant fintech |
| N26 | Digital bank | ~200,000 | Growing |
| Bunq | Digital bank | Growing | Active |
| Apple Pay | NFC Wallet | Widespread | Active |
| Google Pay | NFC Wallet | Widespread | Active |

### Revolut Dominance
- Nearly 3 million Irish users
- Multi-currency accounts
- 2024 Best Current Account (Bonkers.ie)
- Licensed by Bank of Lithuania, regulated by Central Bank of Ireland
- Deposits covered under Irish Deposit Guarantee Scheme

### N26 Presence
- ~200,000 Irish customers
- German bank license (European Passport)
- Joint accounts launched April 2024
- Savings accounts launched March 2024

---

## Schemes

| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| [EPC QR](https://docs.barcoder.ai/docs/payments/IE/epc-qr) | Payment QR | QR Code | Limited | [`epc-qr`](https://docs.barcoder.ai/docs/standards/epc-qr) |
| [Zippay](https://docs.barcoder.ai/docs/payments/IE/zippay) | P2P mobile | Phone # | AIB/BOI/PTSB | [`zippay`](https://docs.barcoder.ai/docs/standards/zippay) |
| [EMVCo QR](https://docs.barcoder.ai/docs/payments/IE/emvco-qr) | Global standard | QR Code | Via PSPs | — |

## Sources

- [AIB - SEPA Instant Payments](https://aib.ie/ways-to-bank/sepa-instant-payments)
- [AIB - Zippay](https://aib.ie/ways-to-bank/zippay)
- [Bank of Ireland - SEPA Instant](https://personalbanking.bankofireland.com/ways-to-bank/mobile-banking/sepa-instant/)
- [TheBanks.eu - Ireland Major Banks](https://thebanks.eu/countries/Ireland/major_banks)
- [Irish Times - Mortgage Market Share](https://www.irishtimes.com/business/2024/05/02/aib-mortgage-share-rises-leaving-top-two-banks-with-over-75-of-market/)
- [RTE - Banking Review 2024](https://www.rte.ie/news/business/2024/1227/1487953-banks-year-in-review/)
- [NPI - QR Code Payments Ireland](https://npi.ie/qr-code-payments-ireland-implementation-guide/)
- [European Payments Council - QR Code Standards](https://www.europeanpaymentscouncil.eu/)
- [Money Guide Ireland - Revolut vs N26](https://www.moneyguideireland.com/n26-compared-revolut.html)
- [Askaboutmoney - Zippay Launch](https://www.askaboutmoney.com/threads/aib-boi-and-ptsb-launch-instant-payment-service.241604/)
- [Bank of Ireland - What is a payee reference?](https://bankofireland.com/help-centre/faq/what-is-a-payee-reference)

## Full country report

[IE-ireland.md](https://docs.barcoder.ai/docs/payments/IE)