Mr. Brian Hayes:

I hear the Deputy’s frustration. There is frustration on this side of the table also. I am somewhat curtailed in what I can say because this is a separate entity. Under the Competition and Consumer Protection Commission, CCPC, it has been set up that way. I am not a spokesperson for Sinch. I note that statements have been made recently to the public market in regard to looking at alternatives. There was of course the first CCPC approval which took a two-year period. Things have moved on in terms of the authorisation requirements that regulators now look for. In many of the instant payment apps the Deputy has seen in Sweden or other countries which are ahead of us - and I accept that they are - they happened prior to a significant number of EU regulations. We are coming from that position. My understanding is, from a public pronouncement, that Sinch is looking at all the alternatives right now, within the existing regulatory environment, to see whether something can work and come to market. Obviously it has suppliers and it has to give certainty on this. It is working through those options right now. It is a separate company. The CCPC decision was absolutely clear that it is out of our hands. We are effectively a lobby group. We are an industry group. We do not have control on this. It is something around which we all share the frustration and we are trying to work through from the perspective of the consumer. We are behind on this, that is absolutely correct. For a country that has such a digital capacity and such a large footprint of digital users and businesses, we need to make more progress, in particular in view of the figures. The figures on instant payments have gone through the roof since Covid-19. We know that. However, I know that the people in Sinch are working on this as we speak.

I am sorry I cannot give any more information. I simply do not have it because I do not have control on this. As is absolutely right, I cannot have control of something where it is stipulated that I cannot be involved.