Pay by Account (PAYBAC) Working Group

The PAYBAC Working Group was established by the Irish Retail Payments Forum upon recommendation from the Department of Finance in its National Payments Strategy (PDF 5.66MB), published in October 2024.

The working group seeks to coordinate enhancements to the payments ecosystem that facilitate the successful uptake of PAYBAC functionality in Ireland, in order to increase innovation and competition for the benefit of consumers and businesses. The working group will aim to achieve increased transparency of performance data, to identify barriers or obstacles to the development of Pay by Account solutions, and to monitor user adoption.

For more information, you can view the PAYBAC Working Group Terms of Reference (PDF 185.29KB).

If you require any further information please contact the Payment Systems Policy team in the Central Bank of Ireland at [email protected].