Synch, the shared payments system devised by Irish banks, has received competition clearance but there is no timeline yet for launch of its app, which is to be known as Yippay

Joint venture mobile payments app proposed by traditional Irish banks initially delayed amid competition fears

Planned rival to Revolut called ‘Yippay’ will be the subject of a CCPC inquiry to determine if it could lead to less competition in the state

Activity on the development of Synch has been suspended since early June as the bank prioritises other IT projects instead

Country’s competition watchdog says not enough information was provided on the project aimed at challenging Revolut and N26

Eight years after Swish was launched onto the Swedish market, Synch, an Irish banks’ joint venture, is hoping for similar success with its platform here