Ireland’s Guide To Money And Living

Money messaging with Plynk

Plynk messaging

Plynk, Europe’s first money messaging app, continues to go from strength to strength, having recently secured a €25 million investment that will allow the company to expand further across Ireland and Europe.

Headquartered in Dublin, Plynk was co-founded in 2015 by Charles Dowd and Clive Foley with the aim of providing a consumer app that allows money to be transfer among friends instantly and without effort. Once you create an account with Plynk you’re issued with a dedicated IBAN and a virtual Mastercard for online payments. Money is loaded into your Plynk account by bank transfer from your bank account.

Linked to Facebook accounts, Plynk users can send money via a private message or group chats without incurring any feeds. “Today sending a photo, video, or chat to a friend has become second nature to students, graduates and young adults,” said Charles Dowd. “This cohort have become accustomed to the free and instant transfer of data using purely their mobile phone. This is also the generation that can see when their friend is typing. No wonder they find it hard to fathom that a bank transfer can take days.”

The plan going forward is to integrate the app with Apple and Android Pay, offering further outlets for users. Plynk was launched in January 2017, and has said that it has more than 6,000 users across Android and iOS platforms in Ireland so far.

“The intersection between social and payments is an exciting area because there is still a customer need,” said Dowd. “There is an awkwardness around sharing expenses among peers, whether it is splitting a lunch bill, sending rent to a roommate or sharing costs of a holiday like a hotel or flights. With Plynk, users send money to a name, not an account number. This turns a normally formal and uncomfortable task into a transparent, instant, social interaction. This is the change we are looking to make.”

When not writing about all things personal finance, You & Your Money's editor Conor Forrest enjoys reading, football and getting lost in an ocean of Wikipedia articles.