Banks end plans for mobile app to rival Revolut

Synch, the mobile payments app backed by AIB, Bank of Ireland and Permanent TSB, has abandoned plans to launch its payments app, Yippay, into the Irish market.

The app from Dublin-headquartered fintech was designed to be a rival to Revolut.

In a statement, Synch Payments said that following a careful and considered review of its business plan “it has reached the difficult decision that it is no longer feasible to launch its payments app, Yippay, ...