knowledge 14 October 2025 |

Central Bank of Ireland Innovation Sandbox Programme – Innovation in Payments

The CBI’s sandbox programmes are a regulatory initiative designed to support the early-stage development of innovative projects that improve outcomes for consumers and the financial system. They provide firms with regulatory advice, guidance, and a collaborative environment to test and refine their ideas, thereby helping firms overcome challenges in bringing their innovations to market responsibly. For the CBI, the programmes also serve as an important tool to gain early insights into emerging risks, supervisory challenges, and technological trends.

The Payments Sandbox explores new technologies and business models to enhance efficiency, safety, and consumer outcomes in payment services.

Payments Sandbox

Set to commence in January 2026, the Payments Sandbox is designed to strengthen collaboration between the CBI and the private sector in shaping the future of Ireland’s payments landscape. It accepts applications from start-ups, established firms, and partnerships at all stages of development that are working on technologies to deliver safer, faster, and more inclusive payment solutions.

The Payments Sandbox will focus on the following key challenges:

• inclusive access to the digital economy;
• frictionless and transparent money movement;
• resilient and secure payments; and
• safe integration of emerging payment technologies.

This thematic approach ensures that innovations directly address critical gaps in the financial landscape.

Participants in the Payments Sandbox will be encouraged to develop solutions that are both practical and aligned with public policy priorities. By doing so, it aims to support the dual goals of improving outcomes for consumers and businesses and preparing Ireland’s payments ecosystem for the next wave of digital transformation.

Application Procedure

The Sandbox allows for applications from across the financial sector, from both individual entities and partnerships. However, the CBI discourages applications from very early-stage concepts without a working model. Applicants are encouraged to contact the CBI directly (sandbox@centralbank.ie) if unsure about suitability, as the Innovation Hub may be a better fit in some cases.

Successful applicants are expected to commit sufficient time and resources for engagement with the CBI during the six-month programme. This includes attending workshops, contributing subject matter expertise, and collaborating in information sharing.

Applications are assessed on four criteria: alignment with the Payments Sandbox problem statements, evidence of the Programme Sandbox being essential to development, strong evidence of readiness across multiple areas (market, scale, revenue model) and readiness to engage with the Payments Sandbox, and a strong, credible team with relevant expertise, resources, and identification of supports where needed to develop innovation beyond the programme.

The CBI’s Guide to Completing the Innovation Sandbox Programme Application Form provides a detailed explanation of these criteria, outlining key parameters and examples of positive and negative indicators. There is no application fee. Applicants do not have to be Irish domiciled, but the CBI expects that applicants are selling, or intend to sell, their service or product in the Irish market.

Applications for the Payments Sandbox close on 10 November 2025.

How can McCann FitzGerald LLP help?

In practice, we anticipate that payment companies intending to engage with the Payments Sandbox may require assistance with:

• preparing strong applications to the Payments Sandbox;
• supporting the development of partnership agreements or contracts where applicants are applying as collaborations between multiple entities;
• ensuring full compliance with the Payments Sandbox terms and conditions;
• advising on legal and regulatory considerations around emerging payment technologies.

McCann FitzGerald LLP is a premier law firm in Ireland and advises on the full range of legal, tax and compliance activities undertaken by payment services companies in Ireland. We have substantial experience in successfully guiding applicants through the regulatory authorisation process and in helping them to comply with their legal obligations, once established. If you require assistance with the Payments Sandbox, please get in touch with one of the key contacts below.

Also contributed to by Borbala Gyenge