Ireland’s reputation as a FinTech hub continues to grow, and the Central Bank of Ireland (the “Central Bank“) has now opened its Innovation Sandbox Programme on Innovation in Payments (the “Sandbox“). The programme provides a structured way for firms to design, test, and refine novel payment solutions with direct regulatory engagement. It is designed to help firms build solutions that deliver clear consumer benefits, manage risks effectively, and demonstrate real‑world feasibility.
The Sandbox focuses on targeted themes where innovation can deliver meaningful progress for users and the wider ecosystem: improving inclusive access and choice in payments; harnessing emerging technologies; preventing fraud and financial crime; and enhancing operational efficiency and resilience. Proposals that address these priorities, and that can evidence consumer value, are at the heart of the Sandbox’s public‑interest lens. The format of the Sandbox will focus on a specific theme and a number of problem statements, for example (i) inclusive access to the digital economy, (ii) frictionless and transparent money movement, (iii) resilient and secure payments and (iv) safe integration of emerging payment technologies.
Participants benefit from hands‑on regulatory dialogue. This includes tailored feedback, clinics and workshops with Central Bank specialists. This engagement with the Central Bank aims to help shape proofs‑of‑concept, identify potential regulatory hurdles early, and understand the pathways to ensure products are compliant with regulatory expectations. The environment of the Sandbox gives firms the opportunity to trial innovative technologies and approaches under structured conditions.
The Sandbox is not a shortcut to authorisation, nor a waiver from regulatory requirements. Participation does not replace licensing or compliance obligations. Instead, by providing regulatory advice and support to accelerate development of solutions, it helps firms understand and meet those obligations sooner and more effectively, reducing uncertainty and supporting better outcomes for consumers and market integrity.
Who should consider applying? Start‑ups, scale‑ups, and incumbent firms working on new payment strategies. Applications are open to standalone firms or partnerships. Notably, the application is open to candidates from Ireland and abroad. Strong candidates will be able to demonstrate clear consumer benefit, genuine innovation, defined testing plans, appropriate risk mitigants, and a tangible Ireland nexus. They will have identified a specific problem statement and show verifiable evidence of readiness across multiple areas (including market, scale and revenue) to engage with the Sandbox. It is crucial for applicants to demonstrate a strong case showing the Sandbox as critical to their development.
How it works: firms submit applications and, if selected, join a themed cohort for the six-month Sandbox. During the programme, they engage collaboratively with Central Bank experts, test and learn within an agreed framework, and receive structured feedback. Support sessions are scheduled one-on-one every two weeks with six workshops across the six-month initiative. The Sandbox concludes with insights that inform next steps, whether that is refining the concept, progressing towards authorisation, or exploring broader ecosystem collaboration.
For participants, the benefit is early, constructive engagement with the Central Bank and a safe space to build solutions that can scale responsibly. Firms interested in participating in the Sandbox should apply by 10 November 2025.
