Eurobank announces its participation in the interconnection of the IRIS Payments service with the European Payments Alliance (EuroPA) through DIAS S.A., expanding the capabilities of instant cross-border money transfers for its customers.
This new interconnection constitutes an important step for the strengthening of instant digital payments in Europe, enhancing the capabilities of Eurobank’s customers and allowing individuals to send and receive easily, quickly and securely money to and from users of corresponding European payment services, while maintaining the same familiar IRIS Payments user experience 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 payments ecosystem.
The implementation of the interconnection with the European payment schemes is carried out through DIAS S.A. (Interbanking Systems), the national interbank payment clearing institution in Greece, which ensures the secure routing and clearing of transactions within seconds, between participating organizations and European payment schemes, with a high level of reliability and speed.
From 30 June 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, using the familiar user experience of IRIS Payments through the Eurobank Mobile App, under the same terms that apply to IRIS Payments transactions in Greece. The first phase of the interconnection concerns instant money transfers between individuals (Person-to-Person), while in a subsequent phase the extension of interoperability to payments to businesses is also planned.
This new capability falls within the framework of the EuroPA alliance, in which Greece, Spain, Portugal, Italy and Andorra currently participate. 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 Chief Executive Officer of Eurobank and Head of Retail & Digital Banking, stated: “Eurobank has consistently been at the forefront of digital payments, adopting in a timely manner new technologies and international infrastructures that create real value for its customers. The interconnection 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 in the same simple, secure and user-friendly way they currently carry out transactions through the IRIS Payments service in Greece. This is yet another substantial step towards a more interconnected and modern European payments environment.”.
The new capabilities for Eurobank customers
With participation in EuroPA, Eurobank customers gain access to an upgraded instant payments environment, enjoying:
- Instant cross-border money transfers between individuals in different European countries through the Eurobank Mobile App, under the same terms that apply to IRIS Payments transactions in Greece.
- Initiation of transactions using a mobile phone number, without the need to enter an IBAN.
- Secure transactions with the application of Strong Customer Authentication (SCA), in accordance with European security standards.
- Simplified and user-friendly experience, leveraging the existing functionality of the IRIS service.
- Eurobank’s participation in EuroPA constitutes the first step towards a unified European environment for instant digital payments, which will gradually expand with new countries and additional capabilities.
The new service facilitates sending money to relatives and friends located in the countries participating in EuroPA, in the same simple and instant way that users currently carry out IRIS Payments transactions in Greece.
Eurobank, the first bank in Europe to activate a cross-border payments service to India through the Unified Payments Interface (UPI) infrastructure, within the framework of its strategic partnership with NPCI International Payments Limited (NIPL), continues to expand the international digital payment capabilities it offers to its customers.
The Bank’s strategic objective remains the provision of high value-added services that respond to the constantly evolving needs of its customers and contribute to shaping the future of digital payments in Europe.