The Greek Shift to A2A Payments: What’s Fueling the Transition?

Across Europe, account-to-account (A2A) payments are gaining traction, but Greece is becoming a standout example of how quickly this shift can reshape a country’s payments landscape. As more consumers and merchants turn to direct, instant bank transfers, A2A payments are starting to chip away at the traditional dominance of cards and cash.

Under the new EU Instant Payments Regulation, which took effect in January 2025, all eurozone banks must offer instant credit transfers. Greece, often more cash-heavy than its Northern European neighbours, has seen a notable jump: estimates show that the share of digital instant transfers grew by over 80% year-on-year in the first quarter of 2025.

At the same time, tax policies requiring small businesses and freelancers to accept digital payments for low-value transactions are driving merchants to upgrade point-of-sale systems. Early figures suggest that nearly 35% of Greek SMEs now accept real-time bank transfers alongside cards,  a significant shift in a market where cash has long dominated everyday payments.

Together, these trends are creating the conditions for A2A payments to expand well beyond peer-to-peer transfers into everyday business use. Key factors include:

• Regulatory Pressure and Tax Compliance: New government rules targeting Greece’s historically large informal economy are now pushing freelancers, small businesses, and service providers to accept digital payments for low-value transactions. By reducing cash-only trade and strengthening tax collection, these policies are driving everyday usage of A2A transfers in sectors like legal services, construction, and small retail, areas where cash once dominated.

• Consumer Shift to Faster, Lower-Cost Payments: Consumers are increasingly drawn to direct bank transfers for larger day-to-day payments like rent, utility bills, and professional services. Instant settlement, no card fees, and greater trust in secure digital banking channels are making A2A an attractive alternative, especially as more banks and fintech apps improve user experience and real-time confirmation.

• Pan-European Interoperability: Momentum is also coming from regional connections. By 2026, Greek payment providers are expected to link domestic A2A rails with pan-European frameworks like EuroPA and EMPSA, enabling millions of consumers and businesses to send and receive instant payments across borders just as easily as local transfers. For exporters, freelancers, and travel-related businesses, this cross-border reach could open up new ways to cut costs and speed up cash flow.

Greece’s progress in expanding instant A2A payments offers valuable insights for the wider region. Understanding how regulation, technology, and market readiness interact will be critical as the EU Instant Payments Regulation comes into full effect.

This progress and its lessons will be discussed at the 21st NextGen Payments & RegTech Forum, on 22 October 2025 at the Marriott Hotel in Athens, Greece. Join peers and thought leaders to explore practical strategies, share real-world lessons, and tackle the opportunities and challenges ahead for real-time payments, A2A adoption, and digital transformation across the financial ecosystem.

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By: Zinah Abdaki, Head of Marketing at QUBE Events