Digital Payments & Fintech · Greece
Fintech & digital payments rules in Greece (2026)
Greece shaded by its digital payments & fintech status
Greece operates a full licensing regime for payment institutions and electronic money institutions under Law 4537/2018, which transposed PSD2 (Directive 2015/2366/EU) into national law, with the Bank of Greece as the sole competent authority for authorisation and prudential supervision. The IRIS instant-payment rail became mandatory for all businesses on 1 December 2025, and the per-transaction daily limit was raised to €1,000 in January 2026. Greece aligns with all applicable EU-wide frameworks — PSD2, CCD2 (BNPL), and MiCA — with national implementing legislation in force or in transposition.
Key points
The Bank of Greece authorises and supervises Payment Institutions (PIs) and Authorised Electronic Money Institutions (AEMIs) under Law 4537/2018 and part A of Law 4021/2012. EMIs require minimum starting capital of €350,000 and at least three natural-person directors. BoG Act 164/2019 sets out detailed operational, governance and registration requirements; BoG Act 243/2025 introduced an updated corporate governance framework aligned with EBA Guidelines.
Greece enacted PSD2 via Law 4537/2018; banks must provide secure API access to licensed AISPs and PISPs using the Berlin Group NextGen PSD2 standard, with sandbox environments and strong-customer-authentication (SCA) flows overseen by the Bank of Greece. BoG Act 189/2021 established a formal regulatory sandbox to test emerging fintech products within the financial sector.
IRIS, Greece's national instant-payment system, was made mandatory for all businesses from 1 December 2025; non-compliance carries fines starting at €1,500. The daily transfer limit was doubled to €1,000 in January 2026. IRIS volumes grew 70.8% year-on-year in 2025, reaching approximately 120 million transactions worth €11 billion. Cross-border expansion via the EuroPA/EPI network is planned for mid-2026.
BNPL services in Greece are being brought within the consumer-credit perimeter through the EU Second Consumer Credit Directive (CCD2), which Greece was required to transpose by 20 November 2025. CCD2 removes the €200 minimum threshold and most interest-free BNPL exemptions, requiring mandatory affordability checks and clearer fee disclosure. Enforcement is expected to begin in late 2026.
Greece enacted Law 5193/2025 to implement the EU Markets in Crypto-Assets Regulation (MiCA). The Hellenic Capital Market Commission (HCMC) is designated as the primary competent authority for authorising Crypto-Asset Service Providers (CASPs). The Bank of Greece retains prudential oversight for asset-referenced tokens (ARTs), e-money tokens (EMTs), and credit institutions offering crypto services.
The Bank of Greece operates a formal regulatory sandbox (BoG Executive Committee Act 189/2021) to facilitate testing of innovative financial products. Law 4961/2022 created a broader technology sandbox. EU-backed EquiFund investment supports over 90 Greek fintechs. Greece is preparing for PSD3 and DORA alignment, expected 2026–2028.
Greece - other topics
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