A new era in digital payments begins as IRIS Payments users can now make instant cross-border money transfers across Europe using only the recipient’s mobile phone number, without the need to enter an IBAN.
This is enabled through the participation of Greek interbank payment processor DIAS S.A. in the European Payments Alliance (EuroPA), a pan-European initiative linking national instant-payment platforms. In its first phase, IRIS Payments users can transfer funds to users of equivalent services in Spain, Portugal, Italy and Andorra solely by using the recipient’s mobile number.
The service is initially available through Eurobank, Piraeus Bank and Viva.com, while additional Greek banks are expected to join in the coming months, expanding access to the European instant-payments network.
EuroPA connects national account-to-account instant-payment solutions, including IRIS Payments in Greece, MB WAY in Portugal, Bizum in Spain and BANCOMAT Pay in Italy, with the aim of creating a unified European payments ecosystem. The first phase covers person-to-person (P2P) transactions and serves 57.3 million citizens across five countries.
By the end of 2026, the network is expected to expand to more than 176 million citizens in 18 European countries. From 2027 onward, interoperability is also planned to extend to payments at online and physical retail stores.
Transactions Completed in Seconds
The interoperability is facilitated through DIAS, Greece’s national interbank payment clearing organization, using the European SEPA Instant Credit Transfer (SCT Inst) scheme. As a result, transactions are cleared within seconds while meeting high standards of security, reliability and speed.
Through its participation in EuroPA, IRIS Payments users can now make instant cross-border person-to-person transfers, send money using only the recipient’s mobile number without an IBAN, enjoy the same familiar IRIS user experience, and complete transactions using Strong Customer Authentication (SCA) in line with European security standards.
Next Step: Payments to Businesses
The new service was officially presented at the Payments 360 Conference powered by DIAS, held at the Athens Concert Hall.
DIAS Chief Executive Stavroula Kampouridou described the integration of IRIS Payments with EuroPA as a major milestone for Greece’s payments ecosystem and for the creation of a unified European digital payments experience.
“For the first time, IRIS Payments users can send and receive money from users of similar services in other European countries using only a mobile phone number, with the same simplicity and security they already know,” she said.
Kampouridou noted that the current interoperability focuses on person-to-person transfers, while the next objective is to extend the service to business payments. This would allow European consumers to make purchases and conduct transactions across Europe with the same ease as sending money from a mobile phone.
“At DIAS, we believe the future of payments is instant, interoperable and European. Initiatives such as EuroPA bring together successful national payment solutions to create a European network that strengthens innovation, competition and Europe’s sovereignty in payments for the benefit of both citizens and businesses,” she said.
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