Approximately 126.4 million transactions, worth a total of 10.9 billion euros, including intrabank (on-us) transactions, were carried out through IRIS Payments in 2025, according to the new joint whitepaper by DIAS and Capgemini Invent “Scaling Account-Based Payments in Europe: The IRIS Case - An Account-Based Payment Success Story”.
Interbank transactions increased from 1.6 million in 2020 to 95.4 million in 2025 -sixty times within five years-, while IRIS Payments accounted for approximately 70% of the volume of instant payments in Greece.
The study records the ten-year course of IRIS Payments, from its creation in 2016 to its establishment as an everyday payment method, and how a technically available service evolved into a key method of everyday transactions for millions of citizens, professionals, and businesses. Its main conclusion is that technological infrastructure, although necessary, is not sufficient on its own to achieve mass adoption.
2021 as a turning point
IRIS Payments started in 2016 as an instant account-to-account payment service, integrated under different commercial names into the digital channels of the four systemic banks and into the interbank infrastructure of DIAS.
A decisive turning point came in 2021, when the new management of DIAS set a new strategic direction: the emphasis shifted from technical availability to broad commercial expansion. The unified IRIS Payments identity was established and emphasis was placed on ease of use, outward orientation, and the expansion of participating banks. At the same time, zero fees were introduced for individuals and the company’s presence at the European level was strengthened.
Adoption accelerated across the entire service bundle. IRIS P2P (Person 2 Person) users increased from half a million at the beginning of 2020 to 4.27 million at the end of 2025, while they now reach 4.75 million.
IRIS P2Pro (Person 2 Professional) is approaching 600,000 registered professionals, while IRIS Commerce, for payments in online and physical stores, recorded 12.4 million transactions in 2025 worth approximately 4.76 billion euros, with acceptance capability at approximately 1.2 million POS and 70,000 online stores.
“In 2021 we set a clear goal: to transform IRIS from a technically available interbank service into a payment tool that we would all use in our daily lives. Five years later, IRIS is now used by millions of citizens, professionals, and businesses, and ‘send it to me with IRIS’ has become part of our everyday language.
Behind this change lies a consistent strategy, DIAS’s investment in infrastructure and products and, above all, close cooperation with the banks, the State, and the entire ecosystem. The next challenge is to turn universal availability into active preference both in online and physical stores and to leverage the Greek experience for the further development of cross-border instant payments in Europe”, emphasizes Stavroula Kampouridou, chief executive officer of DIAS S.A.
From national scale to European interoperability
The European dimension of IRIS Payments is no longer just a plan. Since 30 June 2026, the IRIS P2P service, through its participation in EuroPA (European Payments Alliance), allows cross-border instant payments using a mobile phone number among participating services in Greece, Portugal (MB WAY), Italy (BANCOMAT Pay), Spain, and Andorra (Bizum).
The first phase connects more than 57 million users, bringing the simplicity of domestic payments to the European level.
The EuroPA model interconnects mature national solutions instead of replacing them. In this way, it preserves the familiar user experience and domestic models, while strengthening competition, innovation, and Europe’s strategic autonomy in payments.
The next phase for IRIS Payments
According to the whitepaper, the next challenge is the transition from broad availability to active preference, especially at the physical point of sale. Fewer steps at checkout, greater consistency among banking applications, clearer visibility of the IRIS Payments option, and value-added services can further strengthen IRIS Commerce.
For businesses, the benefits include lower cost, immediate payment processing, and faster access to liquidity. For consumers, the challenge is for these advantages to translate into an even simpler, consistent, and visible payment experience. At the European level, the operation of EuroPA creates the basis for the gradual expansion of the cross-border use of IRIS Payments for the benefit of millions of citizens and businesses.