What Euronet Merchant Services Greece (epay) does

Euronet Merchant Services Greece (epay) is a wholly-owned Greek subsidiary of Euronet Worldwide Inc. (NASDAQ: EEFT), operating as a Payment Institution licensed by the Bank of Greece (License 414/18.02.2022, under Law 4537/2018). The company provides merchant acquiring and payment-acceptance infrastructure to Greek businesses, covering in-store POS terminals (Android PAX, Sunmi, Verifone, Ingenico form factors), SoftPOS that converts NFC-enabled Android devices into payment terminals, and a multi-mode eCommerce stack (Redirection, iFrame, epay by Link, REST API with tokenization, 3D Secure, and recurring billing). Its technology platform supports card schemes (Visa, Mastercard, plus Amex/Discover/UnionPay/Diners acceptance per the homepage), digital wallets (Apple Pay, Google Pay), Greece's mandatory IRIS account-to-account payments, and Dynamic Currency Conversion for international cardholders.

Value-added services differentiate the offering on settlement speed and regulatory compliance: AllWeekPay credits transactions daily including weekends and holidays, NowPay credits within one hour, and DCC provides merchant revenue on cross-currency card transactions. POS terminals are certified under AADE decisions A.1098/2022 and A.1155/2023 for cash-register and ERP integration with automatic myDATA fiscal transmission, and a SoftPOS Connector app extends this to mobile devices. The company is the sole acquiring provider distributed through Piraeus Bank branches, supported by integration partnerships with ENTERSOFTONE, RBS (NinePOS/Pepper), and Primer Software for combined POS + cash-register bundles.

The business model is primarily transaction-fee based (card acquiring commission plus card-scheme costs) with a regulated 0.5% tier for small-retail consumer transactions up to €20, supplemented by DCC margin, modest SoftPOS subscription fees (€3.90/month standard, €1.90/month bundled), IRIS per-transaction charges, and Giftstation digital-content commissions. Primary customer segments are tourism (hotels, travel agencies, vehicle rentals), retail, hospitality (restaurants, cafes, bars), health services (pharmacies, clinics), small retail, freelancers, transportation, and eCommerce merchants, all served exclusively through Piraeus Bank's physical branch network across Greece.

Name

Euronet Merchant Services Greece (epay)

Legal name

Euronet Merchant Services Payment Institution Single Member S.A. (Εuronet Merchant Services Ίδρυμα Πληρωμών Μονοπρόσωπη Ανώνυμη Εταιρεία)

Website

https://epayworldwide.gr

Company type

Private

Operating status

Operating

Headcount range

51–100 employees

Short description

Euronet Merchant Services Greece (epay) is a Bank of Greece-licensed payment institution providing POS, SoftPOS, eCommerce, and IRIS payment-acceptance services to Greek merchants, distributed exclusively through the Piraeus Bank branch network across tourism, retail, hospitality, healthcare, and small-business segments.

Ownership category

akta.pro rank

Product category

Merchant Acquiring and Payment Processing Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

Merchant Acquiring Banks & ISO/MSP Acquirers (FSAMABAB)

akta.pro secondary industries

EMV Chip, Magstripe & PIN Debit Acceptance (FSAMADAG), A2A Checkout & Merchant Acceptance Solutions (FSAMAFAF), Alternative Payment Methods (APMs) Enablement (BNPL, wallets, local methods) (FSAMACAE)

Keywords

• Merchant acquiring services
• Payment processing
• POS terminal solutions
• ECommerce payment gateway
• Contactless payment acceptance

Headquarters

HQ city

Kallithea, Athens

HQ country

Greece

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Operations, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Card Transaction Fees: Merchants pay commission fees on card transactions processed through POS terminals and eCommerce solutions. Standard transaction fees apply based on merchant category and transaction value.
2. Reduced-Fee Small Retail Transactions: Special 0.5% commission rate for small retail businesses (kiosks, minimarkets, bakeries, etc.) on consumer card transactions up to €20, as mandated by Greek law.
3. SoftPOS Subscription: Monthly management fee for SoftPOS application. Preferential rate of €1.90/month for OMNI cash register users instead of standard €3.90/month.
4. Dynamic Currency Conversion (DCC): Revenue generated from currency exchange margins when international customers opt to pay in their home currency rather than euros.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

epay is a licensed Payment Institution providing merchant acquiring services in Greece, enabling businesses to accept card payments, digital wallets, and IRIS account-to-account transfers across in-store POS terminals (physical and SoftPOS mobile) and eCommerce channels. The company supplements payment acceptance with value-added services such as Dynamic Currency Conversion, daily or instant settlement, certified POS-cash register/ERP integration for Greek AADE myDATA compliance, and digital content/gift card distribution.

Product overview

Euronet Merchant Services Greece (epay) operates as a licensed Payment Institution under Bank of Greece authorization, providing integrated merchant acquiring services under the epay brand. The portfolio is organized around two core payment acceptance channels—in-store POS (physical card terminals and SoftPOS mobile app) and eCommerce (multiple integration methods including Redirection, iFrame, epay by Link, and REST API)—supplemented by value-added services including IRIS account-to-account payments, Dynamic Currency Conversion for international customers, AllWeekPay (daily 7-day settlement), NowPay (instant hourly crediting), POS-ERP/cash register integration for AADE myDATA compliance, and Giftstation digital content. The company serves diverse vertical markets (tourism, retail, hospitality, healthcare, transportation, small retail, freelancers) through direct partnerships and authorized dealer networks, with settlement through Piraeus Bank accounts.

Differentiator

Problem solved

Functional benefit

Products and services

• In-Store POS Physical point-of-sale terminal solutions for accepting card and digital wallet payments at retail locations. Supports multiple terminal models (Android PAX, Sunmi, traditional Verifone, Ingenico) with varying form factors for different business needs.
• eCommerce Online payment acceptance suite for eCommerce merchants including Redirection (hosted checkout), iFrame (embedded), epay by Link (payment links), and Web Service/REST API integration. Supports 3D Secure, tokenization, recurring transactions, installments, and digital wallets (Google Pay, Apple Pay).
• SoftPOS Mobile POS application that turns Android devices with NFC into fully functional contactless payment terminals, accepting cards and mobile wallets. Includes the SoftPOS Connector app (Google Play Store) for AADE-compliant cash register integration. Priced at €3.90/month standard or €1.90/month for OMNI cash register users.
• IRIS Payments Account-to-account payment acceptance at physical POS terminals and eCommerce via QR code scanning through the customer's mobile banking app. Provides instant fund transfer with no chargebacks. Mandatory for businesses serving private consumers in Greece.
• Dynamic Currency Conversion (DCC) Service that allows international customers to pay in their home currency rather than euros. Provides additional revenue for merchants via currency exchange margins while offering familiar pricing for foreign cardholders. Additional 0.2% commission return on DCC transactions under the ENTERSOFTONE partnership.
• AllWeekPay Daily transaction settlement service that credits merchant transaction funds every day including weekends and public holidays, ensuring consistent fund availability and improved cash flow liquidity.
• NowPay Instant payment service that credits merchant transactions within the next hour after completion, providing enhanced cash flow for merchants requiring immediate liquidity.
• POS-ERP Integration (A.1098/A.1155) Integration service connecting epay POS terminals with merchant ERP systems and cash registers per Greek AADE requirements. Supports both DLL and Cloud ECR connections and ensures automatic transmission of transaction data to the myDATA fiscal platform.
• Giftstation Digital content and gift card sales platform enabling merchants to offer entertainment products, digital content, and bill payment services to their customers, extending the merchant offering beyond traditional payment acceptance.
• Merchant Portal (myepay) Web-based merchant dashboard for transaction management, reporting, and statement retrieval. Accessible via WINBANK (Piraeus Bank) application for exports and reconciliation.

Quantifiable outcome

• Instant transaction crediting within the next hour via NowPay
• +2 more outcomes

Segments8 records

Ideal customer profiles8 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature8 records

Partnerships

Ten partnerships are on record, tiered core, flagship and minor.

• RBS (NinePOS)coreTechnology or IntegrationStrategic partnership offering integration of RBS cash register systems with epay POS terminals. Solutions include traditional cash register integration, Pepper all-in-one Android POS application, and NinePOS order management system. All solutions certified compliant with AADE regulatory requirements. Partnership covers retail businesses, restaurants, and SMEs with features including inventory management, delivery platform integration, and QR code digital menus.
• Primer SoftwarecoreTechnology or IntegrationPartnership offering OMNI cash register series fully integrated with epay POS. The combined solution includes epay SoftPOS with preferential €1.90/month pricing, Android device from Primer (Omni-SUNMI V2S or Omni Plus-V3mix) with data package, and 1 month free eTameiaki subscription. Available at Piraeus Bank branches using promotional code 'PIRAEUS'.
• Entersoftone (ENTERSOFTONE GO)coreTechnology or IntegrationENTERSOFTONE GO RETAIL and ENTERSOFTONE GO ESTIASIS solutions fully integrated with epay's acquiring platform. Benefits include all-in-one devices (cash register, printer, POS), automatic myDATA integration, no fiscal device requirements, offline operation capability, and free software upgrades. Exclusive partnership benefits include free ENTERSOFTONE POS Connector module, 1-year Android terminal warranty, 365-day fund settlement including weekends, and additional 0.2% DCC commission return.
• Piraeus BankflagshipChannel Partner/ Reseller/ DistributorPiraeus Bank serves as the exclusive distribution channel for epay merchant acquiring services in Greece. Merchants access epay payment solutions through Piraeus Bank branch network, receiving personalized service from appointment scheduling through contract signing and implementation. epay provides next-day crediting of card transactions to Piraeus Bank accounts.
• GooglecoreTechnology or IntegrationGoogle Pay digital wallet integration enabling merchants to accept payments through the Google Pay platform. Available via epay's Redirection, iFrame, and epay by link eCommerce solutions. Users complete purchases with one click using cards linked to their Google account. Service activation is automatic for new partnerships and gradual rollout for existing merchants.
• ApplecoreTechnology or IntegrationApple Pay digital wallet integration enabling merchants to accept payments through Apple Pay on compatible devices. Supports both mobile and desktop checkout experiences.
• Card Schemes (Visa, Mastercard)coreTechnology or Integrationepay processes transactions across major international card schemes including Visa and Mastercard. The company handles card organization costs and scheme fees as part of its merchant acquiring services.
• IRIS (National Bank of Greece)coreTechnology or IntegrationIRIS account-to-account payment service integration allowing merchants to accept payments directly from customers' bank accounts via QR code through mobile banking applications. Customers authenticate via their bank's e-banking app using credentials, biometrics, or OTP. epay supports IRIS payments at all POS/SoftPOS models and eCommerce solutions (Redirection, iFrame, epay by link).
• Tiresias S.A.minorOthersGreek credit information bureau providing creditworthiness assessments. epay accesses Tiresias' TSEK system (Risk Control Record) to evaluate merchant credit risk and transaction solvency. Data accessed includes uncovered checks, unpaid bills, bankruptcy records, and judicial decisions.
• ICAP CRIF S.A.minorOthersCredit information services provider for evaluating merchant creditworthiness and transaction risk. Part of epay's credit assessment process for merchant onboarding and ongoing relationship management.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• myPOS: myPOS is a European fintech offering mobile POS terminals and merchant acquiring services aimed at SMBs and freelancers. It is a direct competitor to epay in the freelancer and small-merchant SoftPOS space across Greece and the EU.
• Square (Block): Square (part of Block) provides integrated POS hardware, software, and merchant acquiring targeting SMBs and freelancers globally. Its SoftPOS-style mobile acceptance approach directly parallels epay's SoftPOS strategy.

Direct peers

• Nexi: Nexi is a major pan-European merchant acquiring and payments technology provider covering Italy, the Nordics, Germany, and increasingly Greece and Southeast Europe. It overlaps with epay in card acquiring, POS, and gateway services for SMBs and enterprise merchants.
• Viva Wallet: Viva Wallet is a Greek-founded fintech acquirer offering card acceptance, POS terminals, and eCommerce payments to European SMBs. It competes directly with epay in the Greek market and adjacent geographies with similar merchant-targeting strategies.
• Worldline (formerly Cardlink in Greece): Worldline is a leading European payment processor and merchant acquirer with a long-standing presence in Greece through the Cardlink brand. It competes head-to-head with epay in Greek merchant acquiring and POS terminals, making it the most direct comparable.

Others

• PayPal: PayPal provides online payment acceptance and digital wallet services used by Greek eCommerce merchants. It does not directly compete with epay's in-store/POS focus but overlaps on digital wallet and online checkout capabilities.
• Ingenico (Worldline POS terminals): Ingenico, now part of Worldline, is one of the largest global POS terminal manufacturers. epay's product range explicitly references Ingenico terminal models, making it an adjacent/comparable vendor and ecosystem participant in Greek payments hardware.

Broad incumbents

• Stripe: Stripe is a global online payment processor with growing in-person and SMB offerings. It is increasingly relevant to epay's eCommerce merchants in Greece as well as international platforms serving Greek customers.
• Adyen: Adyen is a global payments platform offering unified online, mobile, and in-store payment processing for enterprise merchants. While not Greece-specialized, it competes for the larger and digital-native Greek merchants that epay also targets.
• Verifone: Verifone is a global provider of POS terminals and payment device hardware widely deployed in Greece. It serves the same merchant terminal market as epay, although primarily as a hardware vendor rather than acquirer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks3 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@epaypayments8286
• Facebookfacebook.com/epaypaymentsolutions
• LinkedInlinkedin.com/company/epay-payment-solutions
• Instagraminstagram.com/epay_payments

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Euronet Merchant Services Greece (epay)