The big Irish banks are set to launch an instant mobile payments service early next year in an effort to take on Revolut.

The financial institutions have reformulated a previously abandoned project for a competing mobile application, with the new system set to be integrated into the banks’ own apps. Joe Brennan reports on the new mobile-based system, set to be called Zippay, here.

In its prebudget submission, the Small Firms Association (SFA) has urged the Government to introduce a temporary PRSI rebate to aide with labour costs.