Bank Of Ireland Makes P2P Move

What's Next In Payments®
3:32 PM EDT February 5th, 2013

The Bank of Ireland has announced the launch of a P2P mobile payments service, a first for the Irish market.

The service, aptly named “Pay to Mobile”, lets customers send money to any registered Bank of Ireland account, simply by using their mobile phone number. So in just a few simple steps, everyday situations like splitting the bill or paying/gifting family members can be carried out with ease.

Commenting on the announcement, Gavin Kelly, Head of Direct Channels at Bank of Ireland said: “The changing needs and preferences of our customers, coupled with technological advances, has led to the rapid adoption of direct banking channels. We want to enable our customers to access banking services through the technologies that they use everyday. This new service allows customers to transfer money to friends or family without having to know, or input, their account details. We’re delighted to be the first bank in Ireland to rollout this capability to our customers.”

To use the service, all you have to do is register on 365online – the bank’s online banking service – and download the bank’s mobile banking app. To date, almost 20,000 customers have pre-registered for this new service, available now for iPhone users, with an Android version following shortly. Non-smartphone customers will not be able to download the app but will still be able to receive money on their phone.

The payments solution is the result of the bank’s investment in digital channels and the success of their mobile banking platform, which boasts 180,000 active users.

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