For the third year in a row, in 2023, transactions processed via DIAS S.A. recorded a double-digit growth rate, while their value was in historic record levels for the company’s 34 years of operation as the domestic payment system.

Specifically, in 2023, DIAS processed 406 million transactions, with a total value of €450 billion, an increase of 51,5% compared to 2020, when the value of transactions amounted to 297 billion euros. At the same time, a daily record was set on October 2nd, 2023 with 5,2 million transactions.

Enhanced Business and Organization Collections Footprint – Widespread adoption of the RF/QR payment code

Collections of businesses and organizations appear to have strengthened, as they make up 37,6% (153 million) of all transactions processed in 2023. The number of businesses connected to DIAS for their collections doubled in 2023, compared to 2020, while in December 2023, the adoption of the RF/QR code was implemented by almost all (98%) of them.

A subset of bank credit transfers is instant credit transfers, which in 2023 amounted to 43,4% of bank-to-bank transfers at 36,8 million transactions, an increase of 109,4% compared to 2022. Almost 1 in 2 bank-to-bank transfers was settled instantly in 2023, recording a significant increase from 1 in 7 in 2020. In addition, a daily record of 647 thousand instant credit transfers was set on December 27, 2023. However, it is worth noting that instant credit transfers are 11% of the total credit transfers, as almost all collection/payment transactions of businesses and organizations are not completed as instant credit transfers.

Strong upward trajectory for IRIS payments

In 2023, the IRIS payments service was significantly strengthened. The service is offered by Payment Service Providers in cooperation with DIAS, aiming to further improve speed, user experience, and security in payments. IRIS products include instant money transfers to friends (IRIS P2P) and to sole proprietorships (IRIS P2B) as well as payments in e-shops (IRIS eCommerce), which recorded strong transaction growth rates of 251%, 293% and 69% respectively compared to the corresponding figures of 2022.

Even more impressive is the evolution of these type of transactions in 2023 compared to the previous three-year data (2020), as an increase of 2540% (IRIS P2P), 1125% (IRIS P2B) and 373% (IRIS eCommerce) was recorded, respectively.

Moreover, IRIS P2P users reached 2,2 million on 31/12/2023 (a monthly record with 102 thousand new registrations in December 2023 was achieved), more than four times the size compared to 2020, with 70% of users belonging to the age group of 18-34 years. On the same day, 155 thousand professionals had been registered in the IRIS P2B service, increased by 292,8% compared to 2022, and three times compared to 2020. As for the registered merchants/e-shops participating in the IRIS eCommerce service, their number reached 3,5 thousand in 2023, 19 times more than in 2020.

The CEO of DIAS S.A., Stavroula Kampouridou, expressed enthusiasm about the results, stating: “We are thrilled to witness another year of substantial growth, having exceeded all the goals we had set these past 3 years, setting new benchmarks for DIAS S.A. in our 34 years of operation. The remarkable increase in both the volume and value of transactions underscores our commitment to innovation and efficiency in the continuously and rapidly evolving payment industry. In this context, we are constantly seeking - in close collaboration with our member banks - innovative, secure, intuitive payment services, to further facilitate businesses, organizations, and citizens. At this moment, we stand on the verge of maturation and wide establishment of instant payments and by extension of the IRIS payments service in the Greek and Cypriot market. Our commitment to providing cutting-edge payment solutions is unwavering, and these results affirm the trust of our member banks, our shareholders, and users in DIAS. We are dedicated to fostering further innovation and efficiency in the evolving landscape of the payment industry.”.

Here you can find further information on DIAS’ statistical data in 2023.