Cyprus to Launch Instant Payment System Eliminating IBAN Requirements

Starting in the first quarter of 2027, Cypriot bank customers will be able to conduct instant transfers using only mobile phone numbers, removing the need to provide IBANs for everyday transactions.

31 Aug, 06:31 — 31 Aug, 06:31

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in-cyprus16h ago

IBAN no longer needed for everyday transfers under new Cyprus payment plan

Bank customers in Cyprus will be able to send money to customers of other banks using only their mobile phone number, without providing an IBAN, under a new instant payments system targeted for launch by the first quarter of 2027, according to information obtained by Phileleftheros. JCC Payments and the Association of Cyprus Banks are […]

By Theano Thiopoulou

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Cyprus to Launch Instant Payment System Eliminating IBAN Requirements

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IBAN no longer needed for everyday transfers under new Cyprus payment plan

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