“Instant digital payments are not only changing the way we transact, but also the way the economy will function in the future. In Greece, IRIS is perhaps the most characteristic example of this transition”, pointed out Kyriakos Pierrakakis speaking at the conference “Payments 360 Conference 2026, powered by DIAS”.
In just a few years, it moved from the stage of technological capability to the stage of real, everyday use, proving something extremely important: that in the digital economy, success is not judged by how advanced a technology is, but by how this technology is organically integrated into the daily life of the citizen and the business.
I believe here that the figures speak for themselves.
- Today more than 4.6 million citizens use IRIS for instant money transfers between individuals, a number increased by 760,000 compared to a year ago.
- Also, 600,000 self-employed professionals and sole proprietorships now have the ability to receive payments instantly via mobile phone and tax identification number.
- And in 2025 the value of transactions through IRIS reached 10.9 billion euros, marking an increase of 70% compared to the previous year.
What the numbers reflect, however, is something deeper than an impressive statistical increase. They record a substantial change in behavior. Citizens and businesses recognize in practice the advantages of instant payments: transactions free of charge for the citizen, with a very low burden for the professional, but also with speed and simplicity that meet the needs of the modern economy. Thus, the economy is gradually moving toward a model that is immediate, transparent and efficient.
If we look at the overall picture, in fact, we understand even better the scale of this change. Through DIAS, interbank transactions with a total value of 544.4 billion euros were routed and cleared in 2025, an amount corresponding to 2.2 times Greek GDP, a figure that highlights in the clearest way that payment infrastructures do not operate on the margins of the economy but, on the contrary, constitute a large part of its core.
This progress has not come about by chance. It is the result of a coordinated effort:
- of the State, which shaped the appropriate institutional framework,
- of DIAS, which developed and strengthened this critical infrastructure, but
- also of the banks, the acquirers and the providers of technological solutions, which brought this capability to the real market.
It is precisely this partnership that allows us today to speak of a real success story of the Greek digital economy.
However, this progress does not allow for any complacency. On the contrary, it brings us face to face with a new challenge. The first major bet was the availability of the technology. The next, and perhaps more important, is its universal daily use. Mandatory implementation was necessary on this journey, but mandatory implementation alone is not enough. Real adoption is won in practice, when the experience becomes simple, fast, I would say almost invisible for the user.
This is exactly where the biggest challenge lies today. Despite the significant technical readiness, the use of IRIS at physical points of sale still remains limited, at approximately 55,000 transactions per month. This means that the challenge no longer lies so much in the technology, as in turning this capability into a daily habit.
The role of banks, acquirers and the market as a whole becomes absolutely decisive. The fact that the State legislated the use of IRIS is only one piece of the puzzle. The second is for banks and acquirers to contribute further, by providing incentives so that its use is strengthened.