Banks end plans for mobile app to rival Revolut

The plans for Synch first emerged in early 2021

Synch has abandoned plans for the Irish market (Picture: Getty)

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, ...