Eurobank: Digital Payments and Cross-Border Money Transfers in the EU via IRIS

Eurobank announces its participation in the integration of the IRIS Payments service with the European Payments Alliance (EuroPA) through DIAS S.A., expanding the possibilities for instant cross-border money transfers for its customers.

This new integration represents a significant step toward strengthening instant digital payments in Europe, enhancing the capabilities of Eurobank’s customers and enabling individuals to easily, quickly and securely send and receive money to and from users of corresponding European payment services, while maintaining the same familiar user experience of IRIS Payments through the Eurobank Mobile App.

The EuroPA alliance is a strategic European initiative that interconnects national instant payment solutions, such as IRIS Payments in Greece, Bizum in Spain, MB WAY in Portugal, and BANCOMAT Pay in Italy, with the ultimate goal of creating a unified European instant payment ecosystem.

The integration with European payment schemes is carried out through DIAS S.A. (Interbank Systems), the national clearing house for interbank payments in Greece, which ensures the secure routing and clearing of transactions within seconds, between participating institutions and European payment schemes, with a high level of reliability and speed.

Starting June 30, 2026, Eurobank customers will be able to make instant cross-border money transfers to users of corresponding payment systems in Spain, Andorra, Portugal, and Italy, leveraging their existing experience with IRIS Payments via the Eurobank Mobile App, under the same terms that apply to IRIS Payments transactions in Greece. The first phase of the integration involves direct money transfers between individuals (Person-to-Person), while the next phase is expected to expand interoperability to include payments to businesses.

This new capability is part of the EuroPA alliance, which currently includes Greece, Spain, Portugal, Italy, and Andorra. By the end of 2026, the network is expected to expand to 18 European countries, covering more than 176 million citizens.

Mr. Iakovos Giannaklis, Deputy CEO of Eurobank and Head of Retail & Digital Banking, stated: “Eurobank has consistently been at the forefront of digital payments, promptly adopting new technologies and international infrastructure that create real value for its customers. The integration of IRIS Payments with EuroPA brings the European payments market closer together and offers our customers the ability to make instant cross-border money transfers using the same simple, secure, and user-friendly way they currently conduct transactions through the IRIS Payments service in Greece. This is yet another significant step toward a more interconnected and modern European payments environment.” 

New Features for Eurobank Customers

By participating in EuroPA, Eurobank customers gain access to an enhanced instant payments environment, enjoying:

• Instant cross-border money transfers between individuals in different European countries via the Eurobank Mobile App, under the same terms that apply to IRIS Payments transactions in Greece.
• Initiating transactions using a mobile phone number, without the need to enter an IBAN.
• Secure transactions with Strong Customer Authentication (SCA), in accordance with European security standards.
• A simplified and user-friendly experience, leveraging the existing functionality of the IRIS service.
• Eurobank’s participation in EuroPA marks the first step toward a unified European environment for instant digital payments, which will gradually expand to include new countries and additional features.

The new service makes it easier to send money to family and friends in countries participating in EuroPA, in the same simple and instant way that users currently make IRIS Payments transactions in Greece.

Eurobank, the first bank in Europe to launch a cross-border payment service to India via the Unified Payments Interface (UPI) infrastructure, as part of its strategic partnership with NPCI International Payments Limited (NIPL), continues to expand the international digital payment options it offers to its customers.