Payzy Inc.

What Payzy Inc. does

Payzy is a Greece-only mobile digital wallet operated by COSMOTE Payments – ΥΠΗΡΕΣΙΕΣ ΗΛΕΚΤΡΟΝΙΚΟΥ ΧΡΗΜΑΤΟΣ ΜΟΝΟΠΡΟΣΩΠΗ Α.Ε., a Bank of Greece-licensed Electronic Money Institution and wholly-owned subsidiary of OTE Group (Hellenic Telecommunications Organization). Founded in 2022 and headquartered in Marousi, Greece, the platform serves Greek consumers with an IBAN account, virtual and physical Visa debit cards, peer-to-peer transfers inside an in-app chat (Chat & Pay), automatic group expense splitting (Split It), up to five digital savings goals (Piggys), and a Coins cashback program (1% standard, 2% at payzy pro spots) redeemable as euros or vouchers at ΓΕΡΜΑΝΟΣ, BOX, and COSMOTE TELEKOM. Its companion payzy pro offering targets Greek small and medium merchants with a mobile SoftPOS (accepting Visa, Mastercard, Maestro, and IRIS instant payments), QR-code acceptance, a 1% cashback business debit card, and customizable merchant loyalty programs.

The technical architecture combines native iOS/Android apps, Visa-network card issuance, a PSD2-compliant open-banking API, tokenized digital-wallet integration across Google Pay, Apple Pay, and Garmin Pay, and integration with Greek national infrastructure (IRIS instant payments, ΔΙΑΣ interbank clearing, Τειρεσίας credit bureau). Distribution is product-led via Google Play and Apple App Store, but materially amplified by parent OTE Group — payzy is embedded as a "pay with payzy" button inside the COSMOTE TELEKOM App and What's Up App, with ΓΕΡΜΑΝΟΣ retail stores functioning as both cashback redemption touchpoints and promotional campaign venues.

Payzy's revenue model blends a B2B subscription (€15/month standard, €10/month promotional for payzy pro merchants) with B2B transaction fees (0% QR through 2026, 0.8% SoftPOS domestic consumer cards, 1.8% business/international cards), a suite of consumer micro-fees (€2 domestic ATM, €3 euro-zone ATM, €0.40 bill payment, €9 physical card issuance, €2 interbank transfer), and interchange revenue on consumer Visa transactions funded by the 1% cashback structure. Customer support is augmented by an in-app AI chatbot named Yzy that routes unresolved queries to human agents. The platform is privately held, operates exclusively in Greece, and reports no publicly disclosed revenue or headcount figures.

Name

Payzy Inc.

Legal name

COSMOTE Payments – ΥΠΗΡΕΣΙΕΣ ΗΛΕΚΤΡΟΝΙΚΟΥ ΧΡΗΜΑΤΟΣ ΜΟΝΟΠΡΟΣΩΠΗ ΑΝΩΝΥΜΟΣ ΕΤΑΙΡΙΑ

Website

https://payzy.gr

Company type

Private

Founded year

2022

Operating status

Operating

Short description

Payzy is a Greece-only mobile digital wallet operated by OTE Group subsidiary COSMOTE Payments, offering consumers IBAN accounts, Visa debit cards, P2P transfers, and Coins cashback, alongside a payzy pro merchant platform with SoftPOS and QR-code payments.

Ownership category

akta.pro rank

Product category

Mobile Payments

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Credit Card Issuing (522210)

SIC

Finance Services (6199)

akta.pro primary industry

Carrier Billing & Telco Mobile Money (FSAMAEAD)

akta.pro secondary industries

QR Code Payments Wallets (FSAMAEAC), mPOS & SoftPOS (Tap-to-Phone) Solutions (FSAMADAB), Bill Pay, Invoicing & Payables Platforms (BPAMAFAF)

Keywords

• Mobile payments
• Digital wallet
• Electronic money
• Merchant acquiring
• Peer-to-peer payments

Headquarters

HQ city

Marousi

HQ country

Greece

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. payzy pro Business Subscription: Monthly subscription fee charged to business merchants for access to POS, QR payment acceptance, merchant analytics, and loyalty program tools. Base plan is 15€ per month at promotional rate of 10€ per month, with optional add-ons.
2. Transaction Fees (Business): Transaction-based fees from merchants: 0% commission on QR payments through 2026, 0.8% on SoftPOS transactions for domestic consumer cards, 1.8% for business and international cards. Additionally, interbank transfer fees of 2€ per transfer for outgoing transfers to other banks.
3. ATM Withdrawal Fees: 2€ fee per ATM cash withdrawal in Greece, 3€ for ATM withdrawals abroad in euros.
4. Bill Payment Fees: 0.40€ per bill payment transaction (free for COSMOTE bills).
5. Physical Card Issuance: 9€ fee for physical debit card issuance, including delivery costs.
6. Interchange Revenue (Consumer): Interchange fees earned on every consumer card transaction processed through the payzy Visa network, funded by the 1% cashback reward structure.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels7 records

Core offering

Payzy is a mobile digital wallet and payment platform that provides Greek consumers with an IBAN account, instant virtual and physical Visa debit cards, peer-to-peer transfers (Chat & Pay), group expense splitting (Split It), savings goals (Piggys), and a cashback loyalty program (Coins). For merchants, payzy pro offers a SoftPOS (payzy POS) accepting Visa/Mastercard/Maestro and IRIS payments, QR code-based merchant payments, a business debit card, and a customizable cashback/loyalty program. The service is operated by COSMOTE Payments, a Bank of Greece-licensed Electronic Money Institution, and is deeply integrated with OTE Group's COSMOTE TELEKOM and ΓΕΡΜΑΝΟΣ ecosystem.

Product overview

Payzy is a mobile-first payment ecosystem operated by COSMOTE Payments (a Bank of Greece-licensed Electronic Money Institution). The offering consists of two interconnected platforms: (1) Consumer app with IBAN account, virtual/physical Visa debit cards, Chat & Pay peer transfers, Split it expense sharing, Piggys savings feature, and Coins cashback loyalty program earning 1% on all purchases with enhanced rates at payzy pro spots; (2) payzy pro merchant platform providing soft POS, QR code payments, business debit card with 1% cashback, and customizable loyalty programs. Both platforms integrate with Google Pay, Apple Pay, and Garmin Pay for contactless payments. The service emphasizes cashback rewards, fee-free peer transfers, and seamless integration with COSMOTE TELEKOM ecosystem.

Differentiator

Problem solved

Functional benefit

Brands

• payzy pro: Business-focused version of payzy offering POS services, QR code payments, and business debit card solutions for merchants and enterprises.

Products and services

• payzy App (Consumer) Mobile-first consumer payment app providing an IBAN account, peer-to-peer transfers via Chat & Pay, Split It group expense sharing, Piggys savings goals, bill payments, and 1% cashback (Coins) on all card transactions. Free to download and use; revenue is generated via interchange, transaction, and card issuance fees.
• payzy Visa Debit Card (Virtual & Physical) Instantly issued virtual Visa debit card with optional physical card (€9 issuance including delivery). Supports NFC contactless payments, ATM withdrawals, and tokenization into Google Pay, Apple Pay, and Garmin Pay for use at any Visa-accepting merchant worldwide.
• payzy pro (Merchant Platform) Comprehensive merchant payment platform providing a professional IBAN, SoftPOS, QR code payment acceptance, a free business debit card with 1% cashback, customizable loyalty/cashback promotions, and visibility to payzy's consumer user base. Monthly subscription €15 (promotional €10) plus pay-as-you-go transaction fees.
• payzy POS (SoftPOS) SoftPOS solution enabling merchants to accept card payments (Visa, Mastercard, Maestro) and IRIS instant payments using an Android smartphone or tablet as a contactless terminal. Supports integration with tax registers per AADE requirements. Transaction fees: 0.8% on domestic consumer cards, 1.8% on business/international cards; additional SoftPOS licenses at €5/month.
• Business payzy pro Card Free physical business Visa debit card for payzy pro merchants with 1% cashback on all business expenses. Includes wallet integration for Google Pay, Apple Pay, and Garmin Pay. Free issuance and replacement included in the merchant subscription.

Quantifiable outcome

• 1% cashback on all card transactions
• +5 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration15 records

Feature8 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• COSMOTE TELEKOMcoreStrategic or Co-development PartnerParent OTE Group subsidiary. payzy is embedded within the COSMOTE TELEKOM App as 'pay with payzy' for bill payments and top-ups. COSMOTE TELEKOM subscribers access payzy pro spots via MAGENTA MOMENTS loyalty program. Cross-selling to millions of COSMOTE subscribers is a core acquisition channel. COSMOTE E-Value provides customer service support.
• ΓΕΡΜΑΝΟΣcoreChannel Partner/ Reseller/ DistributorOTE Group's electronics retail chain. A key cashback redemption partner where payzy Coins are exchanged for ΓΕΡΜΑΝΟΣ vouchers. Active merchant for Dyson 20% cashback promotions (purchases at ΓΕΡΜΑΝΟΣ and germanos.gr). Also a channel for physical card distribution and promotional campaigns.
• VisacoreTechnology or IntegrationVisa is the payment network for payzy's physical and virtual debit cards (payzy Visa, Business payzy pro Visa). Card branding, network acceptance, and transaction processing are powered by Visa. Cards are issued under Visa license.
• Google (Google Pay / Google Wallet)coreTechnology or Integrationpayzy cards are addable to Google Pay (Google Wallet) for contactless NFC payments on Android devices. Integration enables seamless mobile payments at any contactless POS terminal.
• Apple (Apple Pay / Apple Wallet)coreTechnology or Integrationpayzy Visa debit cards can be added to Apple Wallet for contactless NFC payments on iPhone and Apple Watch. Supports Face ID and Touch ID authentication for secure in-store and online payments.
• BOX (food delivery vouchers)minorGTM or Marketing PartnerBOX is a food delivery platform whose vouchers are accepted as a redemption option for payzy Coins. Coins earned on transactions can be exchanged for BOX vouchers in denominations of 3€, 10€, 20€, 100€.
• Meta Platforms (Facebook, Instagram)minorGTM or Marketing PartnerMeta Pixel and Meta Business Tools used for advertising campaigns, conversion tracking, and audience retargeting on Facebook and Instagram platforms.
• ΣΠΗΝΤΕΞ Α.Ε. (SprintEX)minorChannel Partner/ Reseller/ DistributorSprintEX is the courier company used to deliver iPad prizes to competition winners. Contracted by COSMOTE Payments for promotional prize delivery.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Apple Pay: Global digital wallet from Apple supported by every major Greek bank. Indirect competitor that Payzy's Visa debit card integrates with — represents both a distribution channel and a competitive substitute for in-store contactless payments in the same Greek market.
• Google Pay: Google's digital wallet and in-store payment acceptance layer widely available in Greece. Like Apple Pay, both a tokenization partner for payzy cards and a competing in-store payment rail for Greek consumers.

Direct peers

• N26: European mobile bank with strong Greek market presence, offering IBAN accounts, debit cards, P2P transfers, and Spaces savings features. Comparable to Payzy's core consumer wallet proposition and pricing model (free tier plus paid plans).
• Viva Wallet: Greek-headquartered fintech providing merchant acquiring, POS terminals, business accounts, and IBAN-based payments. Direct local competitor on the payzy pro side (SoftPOS, QR acceptance, SME banking) with overlapping target customers in the Greek SME segment.
• Revolut: Global neobank operating widely in Greece offering multi-currency accounts, P2P transfers, Visa/Mastercard cards, and merchant services. Direct competitor in the consumer digital wallet space with overlapping features (P2P, cards, savings pots) and similar target segment.
• M-Pesa: Safaricom/Vodafone telco-owned mobile money platform operating across Africa. Closest structural analog to Payzy: a mobile network operator's mobile money wallet with P2P, bill pay, savings, merchant payments, and ecosystem distribution moat through the parent telco.

Emerging players

• Orange Money: Telco-owned mobile money product from Orange Group operating across Africa and the Middle East with P2P, bill pay, savings, and merchant acceptance. Relevant structural analog to Payzy given the shared telco-mobile-money DNA, though operating in different geographies.
• Curve: UK-based all-in-one payment app that consolidates multiple cards, offers fee-free spending abroad, and cashback. Comparable in product positioning (consolidator wallet, cashback-led growth, premium tiers) to Payzy's multi-feature consumer wallet approach.

Regional players

• IRIS Online (National Bank of Greece): Greece's flagship instant payment rail operated by National Bank of Greece, used by all major Greek banks for free P2P transfers. Payzy POS already integrates IRIS — it is both a competitor (free A2A payments) and a key infrastructure dependency for the merchant side.
• Winbank (Piraeus Bank): Leading Greek bank's digital banking platform with mobile wallet, P2P payments, card management, and QR merchant acceptance. Direct competitor for Greek consumers' primary banking relationship and for SME acquiring share.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xfacebook.com/payzybycosmote
• YouTubeyoutube.com/@payzygr
• Facebookfacebook.com/payzybycosmote
• Instagraminstagram.com/payzybycosmote

Compliance3 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 Payzy Inc.