DIAS S.A. has connected Greece's IRIS Payments service with the European Payments Alliance, known as EuroPA.
Starting June 30, 2026, IRIS Payments users in Greece can make instant cross-border money transfers using only a recipient's mobile phone number, without entering an IBAN. The connection was implemented by DIAS S.A., Greece's national interbank payment clearing institution, through its participation in the EuroPA initiative.
Cross-border reach across five countries
For decades, Europe’s fragmented landscape has stood in stark contrast with the dominance of the Visa and Mastercard duopoly. Now, with the rise of instant payments, regulatory momentum, and the ambition to strengthen European payment authority, a new chapter is unfolding.
According to an interview with The Paypers, at the centre of this transformation stands EuroPA – the European Payments Alliance – a coalition of national payments providers working to connect Europe’s domestic champions into a single, interoperable framework. What began as a southern European initiative has, within two years, evolved into a continent-wide collaboration that now covers 10 countries and over 100 million users.
Through EuroPA, IRIS Payments users can send instant transfers to users of equivalent services in Spain, Portugal, Italy, and Andorra. The service is initially available through Eurobank, Piraeus Bank, and Viva.com, with additional Greek banks expected to join gradually. In addition, EuroPA links national A2A instant payment solutions, including MB WAY in Portugal, Bizum in Spain, and BANCOMAT Pay in Italy, with the aim of building a unified European payments ecosystem.
The launch marks the first phase of IRIS Payments' European interoperability for P2P transfers, connecting 57.3 million citizens across five countries. By the end of 2026, the network is expected to expand to more than 176 million citizens across 18 countries. In 2027, interoperability is expected to extend to online and physical retail payments.
Built on the SEPA Instant Credit Transfer scheme
The cross-border connection relies on the European SEPA Instant Credit Transfer, or SCT Inst, scheme, which governs the routing and clearing of transactions within seconds. Transactions are conducted using Strong Customer Authentication, in line with European security standards.
Stavroula Kampouridou, CEO of DIAS S.A., said the connection of IRIS Payments with EuroPA represents a milestone for the Greek payments ecosystem and for building a unified European payments experience. She noted that today's interoperability concerns P2P transfers, but described it as a first step, with business payments expected to follow so that European citizens can eventually pay across the continent as easily as sending a message from their phone. Kampouridou added that DIAS views the future of payments as instant, interoperable, and European, with initiatives such as EuroPA interconnecting national solutions to strengthen competition and payments sovereignty across the region.
