A look into Greece’s Payment System with DIAS
Interbanking Systems S.A. (DIAS) has announced a strong growth in POS transactions. Card payment volumes have risen over the last three years as a result of the government’s push to limit cash usage and the positive response to this initiative from both consumers and businesses. Overall, 70% are contactless payments with an increased usage of contactless cards in May setting the trend.
Anastasios Malliris, General Manager of DIAS Payment System, commented: “More than ever, we need to be prepared to process a higher volume of transactions and remain nimble enough to respond to market changes. BPC has been a partner of DIAS since 2010, helping us get to market quickly while moving away from our legacy system in less than six months. As a provider of countrywide payment services, we have prioritised stability, robustness, security, and availability, and BPC has delivered on these objectives. “
“Together, we have gone through a transformative payments’ journey while complying with regulatory frameworks such as PSD2 and the recent SCA and 3DS2 requirements. Together, we are experiencing this shift towards card and digital payments and we look forward to our continued journey. “
Peter Theunis, SVP Europe and APAC, BPC, added: “We are proud to have powered DIAS since its inception. At BPC, we care about long-term partnerships and customer success. We understand the Greek market and that customers, retailers, and businesses need choice and a transition phase before they go digital. We welcome this increase in card usage and are ready to further co-innovate with DIAS on new and convenient payment methods as Greece looks forward to entering the era of cashless payments.’
Apart from ATM switching and POS services that operate on SmartVista, DIAS offers a variety of payment services including credit transfer, direct debit and an interbank cheque clearing system. It also enables tax payment processing among many other retail and business payment services.